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LL Partnerships

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › LL Partnerships

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  • September 1, 2017 at 9:50 pm #404914
    accaed
    Member
    • Topics: 23
    • Replies: 0
    • ☆

    Question 33 of the specimen paper asks:

    Which of the following statements relating to limited liability partnerships is correct?
    A They are limited to a maximum of 20 members
    B They must have a minimum of two members
    C They must have at least one unlimited member

    In the notes it says Limited Partnerships Act 1907 main features are:
    ? Must be at least one general partner (with unlimited liability) and one limited partner (with limited liability).

    So why is C not correct?

    September 1, 2017 at 10:08 pm #404916
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23303
    • ☆☆☆☆☆

    Because the question is asking about limited liability partnerships and these are not the same as limited partnerships!

    OK?

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