Distinguish between sole proprietorship and joint Hindu family business.
Dear student,
The differences between Joint Hindu Family business and sole proprietorship are:
* Joint Hindu Family is owned by a joint hindu family while sole proprietorship is owned by a single person.
* JHU is managed by the Karta who is the eldest male member of the family, while sole proprietorship is managed by proprietor itself.
* The liability of members of JHU (except Karta) is limited to his share in the family and karta has unlimited liability, while in sole proprietorship, the liability of sole proprietor is unlimited.
Regards
The differences between Joint Hindu Family business and sole proprietorship are:
* Joint Hindu Family is owned by a joint hindu family while sole proprietorship is owned by a single person.
* JHU is managed by the Karta who is the eldest male member of the family, while sole proprietorship is managed by proprietor itself.
* The liability of members of JHU (except Karta) is limited to his share in the family and karta has unlimited liability, while in sole proprietorship, the liability of sole proprietor is unlimited.
Regards