Q1 of 24 Page 57

Compare the status of a minor in a Joint Hindu family business with that in a partnership firm.

In a Joint Hindu family business, a minor male child enjoys equal ownership after his birth. He enjoys ownership over the property only to his share that he holds in the joint family.


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8

Provision of residential accommodation to the members at reasonable rates is the objective of

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A partner whose association with the firm is unknown to the general public is called

 2

If registration is optional, why do partnership firms willingly go through this legal formality and get themselves registered? Explain.

 3

State the important privileges available to a private company.