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Question
Explain the following term/concept:
Joint Hindu Family Firm.
Solution
- It is a form of business organization which is carried from one generation to another generation.
- It comes into existence by the operation of Hindu Law.
- This form organization is found in India only.
- The senior most member of the family is called ‘Karta’ while other members are called ‘Co-parceners’.
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Give one word/phrase/term.
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Give one word/phrase/term.
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