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Question
Select the proper option from the options given below and rewrite the completed sentence.
The Karta in Joint Hindu family Business has ________ Liability.
Options
Unlimited
limited
joint
Solution
The Karta in Joint Hindu family business has unlimited liability.
Explanation:
The Karta’s property can be used to pay the liabilities of the business if the business assets are not sufficient to pay off the debts, thus, he has unlimited liability. The liabilities of coparceners are limited.
RELATED QUESTIONS
Define 'Joint Hindu family'.
Explain the features of a joint Hindu family firm.
Merits and Demerits of Joint Hindu Family?
Features of Joint Stock Company?
Write a word or a phrase or a term which can substitute the following.
The senior most family member of joint Hindu family firm.
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.
Briefly explain the following term: Karta
Distinguish between a Joint Hindu family business and partnership.
State True or False:
The liability of KARTA is unlimited.
State True or False:
Joint Stock company can raise huge amount of capital.
Complete the sentence.
The property of JHF business is jointly owned by the ________
Justify the following statement.
Karta is the sole manager of ‘Joint Hindu Family Business’.
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.
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.
