Tag: cooperative organisation

Questions Related to cooperative organisation

Who has the power to transfer the joint property of HUF so as to bind the interest of both adult and minor coparceners?

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Son's of the HUF

  2. Daughters of the HUF

  3. All the co-parceners of HUF

  4. Karta of HUF

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Correct Option: D
Explanation:

The joint Hindu Family Business is normally managed by the senior member of the family and he is known as Karta. All the necessary powers, rights and responsibility to carry on the business is in the hands of the Karta.

The affairs of business are managed by the head of the family, who is known as the________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. KARMA

  2. KARTA

  3. KARMAVIR

  4. KARVIR

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Correct Option: B

The HUF form of business all the members of a hindu undivided family own the business ________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Individually

  2. Separately

  3. Jointly

  4. With society

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Correct Option: C

The Hindu Undivided Family business is governed by ____________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Contract law

  2. Hindu law

  3. Muslim law

  4. Company law

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Correct Option: B

Hindu Undivided family is formed or created in accordance with the __________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Indian Companies Act

  2. Indian Partnership Act

  3. Hindu Law

  4. None of the above

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Correct Option: C

In HUF business, all the members own the business jointly.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Partly true

  2. True

  3. Partly false

  4. False

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Correct Option: B

In a Hindu Undivided Family business only the ________ get a share in the business by virtue of their being part of the family.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Female members

  2. Male members

  3. Both (A) and (B)

  4. Either (A) or (B)

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Correct Option: B

Statement X :
Karta is the custodian of the income and assets of the HUF
Statement Y:
An adopted son who is the eldest in the family can be qualified to be a Karta of HUF.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. X is true but Y is false

  2. Y is true but X is false

  3. Both X and Y are false

  4. Both X and Y are true

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Correct Option: D

Member in HUF other than KARTA are called as _______________.

organization of commerce and management joint hindu family business and cooperative society cooperative organisation features, organisation, advantages and disadvantages of cooperative organisation introduction to huf

  1. Co-parceners

  2. Co-partners

  3. Co-manager

  4. Co-karta

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Correct Option: A

Which of the following sentence in relation to "Cooperative Societies" are correct?
(1) There should be minimum of 20 members to for cooperative society but there is no maximum limit for the membership.
(2) According to Indian Cooperative Societies Act,1912,each society must transfer at least one-third of its profits to general reserve.
(3) Cooperative Societies may distribute maximum up to 90 per cent of its surplus as dividend to its members and can spent another 10 per cent for the welfare of the members.

organization of commerce and management ownership structures - cooperative society features, merits and demerits, formation and management of a cooperative society meaning and features of cooperative society cooperative organisation

  1. (1) only

  2. (1) & (2) only

  3. (3) only

  4. (2) & (3) only

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Correct Option: C