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Exam Question # Q.9. What are the advantages and disadvantage of Joint Hindu Family Firm? Ans. Some of the advantages of Joint Hindu Family firm are as follows:
1. Every co-partner is guaranteed a “bare subsistence” irrespective of the extent of his contribution to the business.
Exam Question # Q.8. What do you mean by Joint Hindu Family Firm?
Ans. In India a large number of business are carried on in the shape of Joint Hindu Family (JHF) which a...
Exam Question # Q.7. What are the two adjustments of Long Period Monopoly Price? Ans. Long-run monopoly adjustments are of two types:
1. Single plant and 2. Multi-plant adjustments 1. Single-Plant Adjustment:
Henri Fayol's 14 Principles of Management
What is Standard Costing vs Budgetary Control? What is Standard Costing?
What Are The Advantages of Cost Accounting?
Cost accounting is the process of assembling and evaluating information to discover how an organization can maximize its earning and utilise funds. There are various advantages of cost acco...
What is a Monopolistic Competition?
A monopolistic competition is a type of imperfect competition where there are many sellers in the market who are competing against each other in the same industry. They position their produ...
Exam Question # Q.6. What do you mean by Monopoly, Pure Monopoly and Bilateral Monopoly: Ans. Monopoly:
Monopoly is a market situation in which there is only one seller of a product. The product has no close substitutes. The cross elasticity of demand with every o...
Exam Question # Q.5. What is the difference between Perfect Competition and Pure Competition?
Ans. Perfect competition is often distinguished from pure competition, but they differ only in degree. T...