alleryStart learning →An LLP is best described as a hybrid of which two forms?
ATrust and society
BCompany and partnership
CCooperative and company
DProprietorship and trust
Answer & Solution
Correct answer: B. Company and partnership
An LLP combines the limited liability of a company with the flexible internal structure of a partnership.
Keep practising The Limited Liability Partnership Act 2008
Browse all The Limited Liability Partnership Act 2008 questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A pre-incorporation agreement binds the LLP only if ratified by whom?Before becoming a designated partner, an individual must give what?Who signs the notices of change that an LLP files with the Registrar?A partner's liability in an LLP is limited to what?On which date was the first Indian LLP incorporated?What minimum capital is required to form an LLP?An LLP is incorporated on 15 November 2023. Its first financial year may be extended up toWhat is a foreign LLP under the LLP Act, 2008?