CA Foundation The Limited Liability Partnership Act, 2008 — practice questions
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Practice CA Foundation The Limited Liability Partnership Act, 2008 in the app →A Limited Liability Partnership (LLP) is best described as:The Limited Liability Partnership Act, 2008 contains:Under Section 4, the provisions of the Indian Partnership Act, 1932:Under Section 3, an LLP is:Because an LLP has perpetual succession, the death, insolvency or retirement of a partner:In an LLP, the liability of a partner is:Regarding mutual agency in an LLP, a partner is the agent of:Under Section 6, every LLP must have a minimum of:Under Section 6, if the number of partners falls below two and the LLP carries on business for more than six mUnder Section 7, every LLP must have at least two designated partners who are individuals, and:For Section 7, a person is 'resident in India' if he has stayed in India during the financial year for at leasUnder Section 5, who may be a partner in an LLP?Under Section 5, an individual CANNOT become a partner in an LLP if he:The maximum number of partners in an LLP is:With respect to a common seal, an LLP:The financial year of an LLP runs from 1st April to 31st March; however, for an LLP incorporated after 30th SeAn LLP can be formed only for:A 'Foreign LLP' under Section 2(1)(m) is one that is:Under Section 2(1)(d), 'body corporate' includes an LLP but does NOT include:The administration of the LLP Act, 2008 is entrusted to:Which of the following may be converted into an LLP under the Act?As an artificial legal person, an LLP can do everything a natural person can EXCEPT:Mutual rights and duties of partners in an LLP are governed by the LLP agreement; in the absence of such an agA 'small LLP' under Section 2(1)(ta) is one whose contribution does not exceed Rs 25 lakh (up to a prescribed