Question

Rohan, Sohan, Mohan decide to start a business which is created by law and only law can bring it to an end. Rohan has four sons so he wants his business should be such in which he can easily shift the ownership to his sons, whenever he wants. Sohan believes that its function should be performed by elected representatives. Mohan suggests the owners should be responsible for the losses of the business only to a limited extent On the basis of the given information, answer the following A. Which form of business does the above case indicate B. Identify and explain two features of this form of business highlighted above by quoting the lines from the paragraph

Answer 1

Answer:

A.The above case indicates hindu undivided family forms.

B.in hindu undivided family forms,the eldest or the senior most member of the family manages the business and he is called as 'KARTA' .

the liability of karta is unlimited but the liability of other members is limited to the extent share in the business.