Question

Mr. Anil owns a construction business. He has a joint family and lot of ancestral property. All 10 family members are part of the business and he is the eldest member in the family, so he is the Karta who heads the business operations. Since, he is responsible for taking decisions, Mr. Anil is also liable to all the creditors of the business as he is the decision maker. His grandson was also newly born and is the youngest member of the business. (6) (i) Which form of business is being discussed in above case? (ii) State the features of this form of business organisation being followed by Mr. Anil.

Answer 1

Answer:

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