Which Act is stated not to apply to Indian LLPs?
AThe LLP Act, 2008
BPartnership Act, 1932
CCompanies Act, 2013
DContract Act, 1872
Answer & Solution
Correct answer: B. Partnership Act, 1932
The Indian Partnership Act, 1932 is stated not to apply to LLPs, which have their own Act.
Keep practising Partnership Accounts
Browse all Partnership Accounts questions for CA Foundation, or explore more Accounting topics.
Related questions
In an LLP, is a partner liable for another partner's unauthorised actions?An LLP partner's liability is limited to what?Which authority registers and controls LLPs in India?What minimum capital is needed to form an LLP?What is the minimum number of members needed to start an LLP?What is the upper limit on partners in an Indian LLP?What does perpetual succession mean for an LLP?Which statement about an Indian LLP is correct?