Q1 D of 18 Page 265

Fill in the blanks in the following sentences with appropriate words:

The Head of the Hindu undivided family business is known as______ .


The Head of the Hindu undivided family business is known as Karta .

Explanation: ‘Karta’ or the eldest or senior most member of the family – who is also the head of the family, manages the business.


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1 B

Fill in the blanks in the following sentences with appropriate words:

The Indian Partnership Act was passed in the year _________ to regulate the affairs of the partnership firms.


 1 C

Fill in the blanks in the following sentences with appropriate words:

The Maximum number of partners in a firm which carries out banking business is ______ .


 1

Fill in the blanks in the following sentences with appropriate words:

The only business concern under private business organization found in India is ______ .


 2 A

Answer the following questions in one or two sentences each:

Which are the small scale business organizations?