Chapter Exam

Chapter 5: Hindu Undivided Family and Partnership — Online MCQ Test

Q: The head of the Joint Hindu Family business is known as:

Answer: B. Karta — In a Hindu Undivided Family business, the eldest male member who manages the business is called the Karta.

Q: Which Act governs the partnership firms in India?

Answer: C. Indian Partnership Act, 1932 — The Indian Partnership Act of 1932 regulates the formation and functioning of partnership firms in India.

Q: A document containing terms and conditions of partnership is called:

Answer: C. Partnership Deed — The Partnership Deed is a written document that specifies the rights, duties, and obligations of the partners.

Q: If the Karta dies, the business continues. This feature is known as:

Answer: A. Perpetual Succession — Unlike partnership firms, a Joint Hindu Family business enjoys perpetual succession, meaning the death of the Karta does not dissolve the business.

COMMERCE · CLASS 11th · Tamil Nadu State Board

Practice Chapter 5: Hindu Undivided Family and Partnership with a free chapter-wise online MCQ test for Tamil Nadu State Board CLASS 11th COMMERCE. This chapter covers: This chapter details joint Hindu family businesses and partnership dynamics. Students examine partnership deeds partner rights and duties partner types registration processes and d.... AI-generated questions from basic to board-exam level, with instant results and explanations.

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Chapter 5: Hindu Undivided Family and Partnership — Important Questions & Answers (FAQ)

Frequently asked questions from Tamil Nadu State Board CLASS 11th COMMERCE — Chapter 5: Hindu Undivided Family and Partnership, with answers and explanations. These are sample questions; the exam has its own separate question set.

The head of the Joint Hindu Family business is known as:

A. Manager
B. Karta ✓
C. Partner
D. Director

Answer: B. Karta
In a Hindu Undivided Family business, the eldest male member who manages the business is called the Karta.

Which Act governs the partnership firms in India?

A. Indian Partnership Act, 1956
B. Companies Act, 2013
C. Indian Partnership Act, 1932 ✓
D. Contract Act, 1872

Answer: C. Indian Partnership Act, 1932
The Indian Partnership Act of 1932 regulates the formation and functioning of partnership firms in India.

A document containing terms and conditions of partnership is called:

A. Memorandum of Association
B. Articles of Association
C. Partnership Deed ✓
D. Provisional Agreement

Answer: C. Partnership Deed
The Partnership Deed is a written document that specifies the rights, duties, and obligations of the partners.

If the Karta dies, the business continues. This feature is known as:

A. Perpetual Succession ✓
B. Limited liability
C. Mutual agency
D. Individual ownership

Answer: A. Perpetual Succession
Unlike partnership firms, a Joint Hindu Family business enjoys perpetual succession, meaning the death of the Karta does not dissolve the business.

In the context of the Tamil Nadu State Board syllabus, what is the impact of non-registration of a partnership firm?

A. The firm is illegal.
B. The firm cannot sue third parties for recovery of claims. ✓
C. Partners are personally exempted from all liabilities.
D. The firm is exempt from paying income tax.

Answer: B. The firm cannot sue third parties for recovery of claims.
A non-registered firm faces legal disabilities, most notably the inability of the firm or its partners to sue third parties for breach of contract.

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Chapter 6: Joint Stock Company