Please refer to Forms of Business Organisation HOTs Class 11 Business Studies provided below with Forms of Business Organisation. All HOTs for Class 11 Business Studies with answers provided below have been designed as per the latest syllabus and examination petter issued by CBSE, NCERT, KVS. Students of Standard 11 Business Studies should learn the solved HOTS for Class 11 Business Studies provided below to gain better marks in examinations.
Forms of Business Organisation Class 11 Business Studies HOTs
HOTs
Question. Mention 2 necessary conditions that form a Joint Hindu Family business.
Answer : • At least 2 members in a family
• Ancestral property to be inherited by him or her
Question. Who regulates a Joint Hindu Family business?
Answer : Karta
Question. What is an unlimited liability?
Answer : Unlimited liability involves general partners and sole proprietors who are fairly effective for debt and liabilities accumulated by the business. This liability is not capped and can be paid off within the seizure of owners’ personal assets, making it distinct from limited liability ventures.
Question. What is HUF?
Answer : Hindu Undivided Family (HUF) is not specified under the Income Tax Act but is incorporated under the Hindu Law. HUF comprises of all the individuals who are lineally settled from a common ancestor and also includes of unmarried daughters. HUF is not established by a but by the status of a family i.e., it is generated automatically in any Hindu Family.
Question. Who is a secret partner?
Answer : Secret partner is a partner whose membership in a partnership is maintained secret from the public.
Question. Mention the names of the systems that regulate the membership in Joint Hindu Family.
Answer : Dayabhaga law and Mitakshara law