Venkat and his sons were in family business. Venkat took all decisions regarding business, as being eldest in the family. Venkat was taking bad decisions and the business was suffering losses. There was a huge debt burden too. The sons were not allowed to take any decision and even inspect the books of accounts. Venkat had to sell off his house to pay off the debts, whereas sons were not responsible for the debt settlement.
On the basis of above case, answer of the following
questions
1) What form of business is being followed?
2) Highlighting the lines, give two characteristics of Joint Hindu Family business.
Answers
Answered by
3
2.^
1.family business
Attachments:
Answered by
6
Answer:
1. joint hindu family
2. Venkat and his sons were in family business.
characteristics:-
•Governed by Hindu Law
•Management
•Membership by Birth
•Liability
•Permanent Existence
•Implied Authority of Karta
•Minor also a Partner
•Dissolution
Similar questions