CA Foundation · Accounting & Mercantile Law
Limited Liability Partnership (LLP) Act 2008 & Business Laws
10 practice questions, each with the answer and an explanation.
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Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.
All 10 questions
- Under Section 7 of the Limited Liability Partnership Act 2008, what is the minimum statutory requirement for designated partners in an LLP?
- What is the extent of liability of a partner in an LLP for the wrongful acts or omissions of co-partners?
- Under which specific circumstance does the liability of a partner in an LLP become unlimited under Section 30 of the LLP Act 2008?
- Every LLP must maintain books of account and file a Statement of Account and Solvency in Form 8 within how many days from the end of six months of the financial year?
- What is the maximum limit on the number of partners in a Limited Liability Partnership under the LLP Act 2008?
- Can a body corporate become a partner in a Limited Liability Partnership?
- Within what period must an LLP file its Annual Return (Form 11) with the Registrar of Companies following the close of the financial year?
- In the absence of an LLP Agreement, how are profits and losses shared among partners under the First Schedule of the LLP Act?
- Under Section 31 of the LLP Act 2008, what protection is afforded to a Whistleblower who provides useful information during an investigation?
- Which statutory document must an LLP file with the Registrar of Companies to register the mutual rights and duties of its partners within 30 days of incorporation?
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