The karta in joint hindu family business has
Asked by admin @ in Business Studies viewed by 379 People
The karta in Joint Hindu family business has
(a) Limited liability
(b) Unlimited liability
(c) No liability for debts
(d) Joint liability
Answered by admin @
Answer:
Among the given options option (b) UNLIMITED LIABILITY is the correct answer.
The karta in Joint Hindu family business has Unlimited liability .
Explanation:
Karta is the senior member of the family who runs the business. Karta is in full control of finance. According to Hindu succession Amendment Act 2005 , a female can also be member and Karta. The karta is free to take on important decisions of the family business. The Karta has none to consult , none to call and approve
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Here are some more questions from the chapter :
Compare the status of a minor in a Joint Hindu family business with that in a partnership firm.
The structure in which there is separation of ownership and management is called (a) Sole proprietorship (b) Partnership (c) Company (d) All business organisations
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