Page 3 - Lesson Note 4
P. 3

(b) Huge capital

                        (c) Unlimited
                        (d) All of the above

                   3.  In HUF Business all the decisions are taken by:
                        (a) Karta

                        (b) Local Government
                        (c) Coparceners
                        (d) All of the above

                   4.  The liability of Karta in HUF is:
                       (a) Unlimited

                       (b) Limited
                       (c) No liability

                       (d) All of the above
                   5.  The liability of member of HUF business is:

                       (a) Unlimited
                       (b) Limited

                       (c) No liability
                       (d) All of the above


               HOME ASSGNMENT________

               SHORT QUESTIONS ANSWERS_______1MARK EACH


                   1.  Define Hindu undivided family.

                   2.  Who is Karta in HUF Business?
                   3.  What is the liability of Karta and coparceners in HUF Business?

                   4.  How the membership arises in HUF?

               3 ---4 MARK ANSWERS_____


               1. State any four characteristics of HUF Business.


               2. Explain three advantages of HUF Business.

               5---6 MARK ANSWERS______


                   1.  Explain the meaning of Joint Hindu Family Business with its  demerits.

                   2.  Dhirubhai  Chaurasiya  operates  a  textile  business.  His  family  is  joint  and
                       has a lot of ancestoral property. All the 15 family members are a part of
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