Tag: organization of commerce and management

Questions Related to organization of commerce and management

The business affairs of an HUF is managed by _______.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. managing director

  2. parents of minors

  3. karta

  4. eldest male and female member of the family

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Correct Option: C

An HUF continues to exist even upon the death of the Karta.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. Partly false

  2. False

  3. Partly true

  4. True

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Correct Option: D

A HUF cannot enter into partnership agreement with others.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. Partly false

  2. False

  3. Partly true

  4. True

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Correct Option: B

Karta is a person with limited powers, but, within the ambit of his sphere, he possesses such vast powers as are possessed by none else.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. Partly false

  2. False

  3. Partly true

  4. True

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Correct Option: D

Which of the following is an advantage of HUF?

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. Favourable Credit Standing

  2. Greater Management Ability

  3. Profit Incentive

  4. None of the above

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Correct Option: D

What is the maximum strength of HUF?

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. $20$

  2. $10$

  3. $50$

  4. No limit

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Correct Option: D

Increase in the number of working women and the rise in no family households are examples of _______________.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. the geographic shifts in population.

  2. the changing family.

  3. the changing age structure of the population.

  4. a better-educated and more white-collar population

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Correct Option: B

Karta in HUF is _______ of his family.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. owner

  2. representative

  3. oldest member

  4. none of the above

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Correct Option: C

The head of the Joint Hindu Family business is called ________.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. partner

  2. manager

  3. karta

  4. member

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Correct Option: A

A and B are joint owner of a house. They rent it out of C and divide the net rent equally. A & B are ________.

organization of commerce and management ownership structures - sole proprietorship and joint hindu family business hindu undivided family business introduction to huf joint hindu family business

  1. Partners

  2. Co-owners

  3. Principal & agent

  4. Consignor & Consignee

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Correct Option: B
Explanation:

Co-ownership refers to the division of ownership of something into two or more heads and working some business out of it to achieve common goals. This act can be passed through an agreement between the co-owners or even it can be done through the operation of law which will be bound on all the co-owners.