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A Limited Liability Partnership (LLP) is best described as:
AA sole proprietorship
BA charitable association
CA traditional partnership with unlimited liability
DA hybrid combining the limited liability of a company with the flexibility of a partnership
Answer & Solution
Correct answer: D. A hybrid combining the limited liability of a company with the flexibility of a partnership
An LLP is a hybrid body corporate giving the benefit of limited liability of a company along with the organisational flexibility of a partnership.
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