Question

Which one of the following is not the characteristics of Joint Hindu Family Business? (1)
a) Membership by birth b) Unlimited liability of Karta
c) Unaffected by death d) Youngest member of family is Karta

Answer 1

Answer:

Youngest member of family is karta

Answer 2

The youngest member of the family is Karta is not the characteristic of Joint Hindu Family Business.

Answer: Option d

Explanation:

The 'Joint Hindu family business' is very popular in India. It is ruled by the 'provisions of the 'Hindu Law'. The main characteristics of the joint Hindu family business are given below.

1. Membership by Birth

2. Minor Members

3. Restriction on Female Membership

4. No Limit on Members

5. No Need for Registration

6. Management by the Karta

7. Right to Accounts

8. Liability

9. Perpetuity

10. Application of Hindu Law

11. Fluctuating shares