Which two statements are correct in relation to designated members in limited liability partnerships (LLPs)? (1) They must not take part in the day-to-day operation of the business (2) They are responsible for filing the LLP’s accounts (3) They are fully liable for partnership debts (4) They have limited liability A 1 and 4 B 2 and 4 C 2 and 3 D 1 and 3
Sir, I am confused as to why the answer to this question, in the BPP kit, is B. Do they have limited liability?