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Study the following case/situation and express your opinionMr. Raghunath is running business from last 30 years. This business is ancestoral business of Mr. Raghunath. Kiran and Naman, two sons of Mr. Raghunath are helping him along with their wives.(i) Find out the type of business.(ii) Who is Raghunath?(iii) What Kiran and Naman are called? |
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Answer» (i) Joint Hindu Family Firm. (ii) Raghunath is the Karta. (iii) Kiran and Naman are called as co-parceners. |
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