Question

Every partner is personally liable for the debts of the firm; in a joint family business only __________ is personally liable.

• A. Male member
• B. Karta
• C. Major male member
• D. Minor male member

Answer 1

The correct option is B Karta

Hindu Joint family business are the type of business which are run by the members of a joint family under Hindu Succession Act, 1956 to achieve common goals.

In Hindu Joint family business, Karta is the head of the family and manages everything in the business. Karta has the most power in a Hindu family business.