11th Commerce - Book Back Answers - Chapter 5 - English Medium Gudies

 

  

 

Plus One / 11th Commerce - Book Back Answers - Chapter 5 - English Medium

Tamil Nadu Board 11th Standard Commerce - Chapter 5: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Chapter 5 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Commerce  Chapter 5 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 11 students! Prepare well and aim for top scores. Thank you!

Chapter 5: HINDU UNDIVIDED FAMILY
AND PARTNERSHIP

I. Choose the correct answer

1. The firm of Hindu Undivided Family is managed by whom?
a. Owner
b. Karta
c. Manager
d. Partner
Answer key:
b. Karta
 
2. In the firm of Hindu Undivided Family, how one gets the membership?
a. By Agreement
b. By Birth
c. By Investing Capital
d. By Managing
Answer key:
b. By Birth

3. The members in the joint hindu family are called _____________
a. Karta
b. coparceners
c. generations
d. partners
Answer key:
b. coparceners

4. ‘Only the male members in the family get the right of inheritance by birth’ as ____
a. Hindu law
b. Mitakshara Law
c. Dayabhaga law
d. None of these
Answer key:
b. Mitakshara Law

5. A partnership is formed by _______
a. agreement        
b. relationship among persons
c. the direction of government
d. Friendship
Answer key:
a. agreement

II. Very Short answer questions

1. Who is called KARTA?

•  The Karta is the senior most male member of the family.

• The members of the family have full faith and confidence in Karta.

2. What are the two schools of Hindu law?

•  Mitakshara
•   Dayabhaga

3. Who is called a Partner?

•  The persons who enter into partnership are individually called ‘Partners’ and collectively known  as ‘Firm’.
• According to Section 4 of the partnership Act, 1932.

4. Who is a Sleeping partner?

• Such a partner contributes capital and shares in the profits or losses of the firm but does not take part in the management of the business.

5. How many types of Dissolution?

• without the order of the court
• By order of the court.

III. Short answer questions

1. Write any three features of HUF.
 i. Governed by Hindu Law

• The business of the Joint Hindu Family is controlled and managed under the Hindu law.

ii. Management

• All the affairs of a Joint Hindu Family are controlled and managed by one person who is known as ‘Karta’

iii. Membership by Birth

• The membership of the family can be acquired only by birth.

2. What is the minimum and maximum number of members in the partnership concern?

• The minimum number of persons required to form a partnership is 2. Maximum is 50.

3. What is the meaning of Partnership Deed?

• Though a partnership agreement need not necessarily be in writing.
•  It is important to have a written agreement in order to avoid misunderstandings.
•  It is desirable to have a written agreement

IV. Long answer questions

1. What are the contents of Partnership Deed? (any 5)
i. Name of the Firm
ii. Nature of the proposed business
iii. Withdrawal from the firm

• The amount that can be withdrawn from the firm by each partner.

 iv. Account keeping

•   Maintenance of accounts and audit.

 v. Distribution of responsibility

• The work that is entrusted to each partner is better stated in the deed itself.

2. Explain the types of dissolution of partnership firm. (any 5)
 A)  Without the order of the court:
    i) By agreement or mutual consent:

• A firm may be dissolved when all the partners agree to close the affairs of the firm.

    ii) By insolvency of all the partners but one:

•   If any of the partners adjudged an insolvent it is necessary to dissolve the firm.

    iii) When the objective becomes illegal:

• When the business carried on by the partnership becomes illegal, the partnershipfirm is automatically dissolved.

    iv) By notice of dissolution

•   In the case of partnership at will when any partner gives in writing to all the other  partners  indicating his intention to dissolve the firm, the firm will be dissolved.          

    v) On certain contingencies:

•  On the expiry of a specified period in case of partnership for a fixed term.

 B) Dissolution through court:-

• When a partner becomes insane
• Permanent incapacity of any partner
•   Misconduct of any partner

3. Write the procedure for Registration of a Firm. (any 5)

• Name of the firm.
• The principal place of business.
• Name of other places where the firm carried on business.
• Names and addresses of all the partners.
• The date on which each partner joined the firm.
•  The duration of the firm.