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प्रश्न
Answer in brief.
State any four merits of the Joint Hindu Family Firm.
उत्तर
Merits of Joint Hindu Family are as follows:
- Easy Formation: Joint Hindu Family Firm can be easily formed. The formation is simple. Registration is also not compulsory. There is no limit on minimum or maximum members in the business. Family members become coparceners by birth in the family.
- Quick Decision: Only the Karta is involved in the decision making process. This helps to make quick decisions in business. If decisions are taken quickly there can be prompt actions.
- Business Secrecy: Complete business secrecy can be maintained. All decisions are taken by Karta only. Coparceners cannot even inspect books of accounts. There is no compulsion to publish books of accounts.
- Co-parceners Liability: The liability of co-parceners is limited. It is to the extent of their share in Joint Family Business. Private property of co-parceners cannot be attached to business property.
APPEARS IN
संबंधित प्रश्न
Joint Hindu Family firm and Joint Stock company.
Define 'Joint Hindu family'.
Explain the features of a joint Hindu family firm.
Features of Joint Stock Company?
maximum number of members in a Joint Hindu Family firm is 20.
The form of organisation which comes into existence by law of inheritance.
Write a word or a phrase or a term which can substitute the following.
The senior most family member of joint Hindu family firm.
Write a word or a phrase or a term which can substitute the following.
The members of the Joint Hindu family firm.
Distinguish between the following.
Joint Hindu family firm and Sole Trading concern
Distinguish between the following.
Joint Hindu family firm and Joint stock company
Write short note on the following.
Features of Joint Hindu family.
Compare the status of a minor in a Joint Hindu family business with that in a partnership firm.
Distinguish between a Joint Hindu family business and partnership.
State True or False:
The maximum number of members is unlimited in Joint Hindu Family Firm.
State True or False:
Joint Stock company can raise huge amount of capital.
Answer in one sentence.
What is Joint Hindu Family business?
Correct the underlined word and rewrite the following sentence.
In Joint Hindu Family business, the senior most member of family is called as Co-parcener.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
