Commerce · Class 11 Commerce
Ch 4Joint Hindu Family Business and Cooperative Society — Class 11 Commerce, concept-first.
After studying Sole Proprietorship and getting an overview of the forms of business organisation, this chapter turns to two forms of business that are distinctly Indian in origin and character — the Joint Hindu Family (JHF) Business and the Cooperative Society.
Key concepts
Hover a concept to preview it and jump to its most relevant Q&A.
Joint Hindu Family Business — Meaning, Karta and Coparceners
A Joint Hindu Family Business is owned and carried on by the members of a Hindu Undivided Family; membership arises automatically by birth (status), never by agreement — which is exactly why Section 5 of the Indian Partn…
Most relevant Q&A
- What is a Joint Hindu Family Business?Free
- State any four features of a Joint Hindu Family Business.Free
- Explain the meaning and legal basis of a Joint Hindu Family Business. Who can become a member (coparcener), and how does membership arise?Free
- Discuss the position, powers and liability of the Karta in a Joint Hindu Family Business.Free
- Write a short note on: KarthaPreview
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Overview
After studying Sole Proprietorship and getting an overview of the forms of business organisation, this chapter turns to two forms of business that are distinctly Indian in origin and character — the J…
Joint Hindu Family Business — Meaning and Legal Basis
A Joint Hindu Family (JHF) Business is a form of business organisation in which the business is owned and carried on by the members of a Hindu Undivided Family (HUF).
Karta and Coparceners — Position, Powers and Liability
The Karta is the head and manager of the Joint Hindu Family Business — ordinarily the senior-most member of the family (traditionally the senior-most male coparcener, though a senior-most female copar…
Merits and Limitations of Joint Hindu Family Business
1. Continuity through survivorship. Since membership is by birth and not by agreement, the business is not automatically dissolved by the death, insanity, or insolvency of any single coparcener (unlik…
Cooperative Society — Meaning, Features and Principles
A Cooperative Society is a voluntary association of persons, usually of limited means, who join together on a basis of equality to promote their common economic interests through self-help and mutual…
Registration and Types of Cooperative Societies
A minimum of ten persons who have attained the age of majority, sharing a common economic objective and normally belonging to the same area of operation, may join together to form a cooperative societ…
Merits and Limitations of Cooperative Society; Comparison with Joint Hindu Family Business
1. Easy to form. Compared with a joint stock company, forming a cooperative society involves far fewer legal formalities — a minimum of ten adult members with a common economic objective, an applicati…
Sample & Board Papers
Sample papers and previous-year board questions for this subject.
More questions
13 Q+−Show 2 questionsHide questions2 questions
+−Show 5 questionsHide questions5 questions
+−Show 6 questionsHide questions6 questions
- Q8Explain the meaning and legal basis of a Joint Hindu Family Business. Who can become a member (coparcener), and how does membership arise?Free
- Q9Discuss the position, powers and liability of the Karta in a Joint Hindu Family Business.Free
- Q10Define a Cooperative Society. Explain its essential features and the principles of cooperation on which it is based.Preview
- Q11Explain the different types of cooperative societies functioning in India, with examples.Preview
- Q12Explain the procedure for registration of a cooperative society, and state the effects of registration.Preview
- Q13Distinguish between Joint Hindu Family Business and Cooperative Society.Preview