alleryAn LLP can be formed only for:
AHolding family property
BCarrying on a lawful business with a view to profit
CAny non-economic purpose
DCharitable purposes
Answer & Solution
Correct answer: B. Carrying on a lawful business with a view to profit
An LLP must be formed to carry on a lawful business with a view to earning profit
it cannot be formed for charitable or non-economic purposes.
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