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Forms Of Business Organization
Question
Only the Karta has unlimited liability in HUF. Explain.
Solution
- In the case of HUF, if the business suffers from losses, then losses can be recovered from Karta's personal property.
- The co-partners are responsible to bear the losses upto the extent of their share on profit.
- Losses cannot be recovered from their personal property
Some More Questions From Forms of Business Organization Chapter
What do you understand by a Public Company?
Under what circumstances, is a partnership form of business organisation suitable ?
Write a short note on 'implied agency', one of the important characteristics of partnership and also true test of partnership.
Would you say that the sole proprietorship involves a lengthy and expensive procedure for its registration?
Explain whether the liability of a sole proprietorship is limited to the extent of his share in business.
Only the Karta has unlimited liability in HUF. Explain.
Define 'Partner by Holding Out'.
Explain how the company is an artificial person.
Discuss whether a company's existence is affected by the death of a member.
Explain how a co-operative is a democratic institution.
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Mock Test Series
Mock Test Series