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Partnerships

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

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Vijay.
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  • May 27, 2021 at 5:45 pm #621940
    tabasumze
    Participant
    • Topics: 40
    • Replies: 48
    • ☆☆

    A question in LW-GLO revision kit pg.27

    Which of the following statements is correct regarding Limited Liability Partnerships is CORRECT?

    1.A written partnership agreement is required to form partnership

    2. The partnership dissolves when a partner leaves

    3.The partnership must have two designated members who are responsible for the publicity requirements of partnership

    4. The partnership is exempt from audit.

    The answer in kit was option (2)
    Whereas the explanation says the partnership does not dissolve when a partner leaves LLP.

    Which is one is correct?

    May 31, 2021 at 8:48 pm #622508
    Vijay
    Member
    • Topics: 0
    • Replies: 258
    • ☆☆☆

    The correct answer is 3 re LLP’s.
    Kind regards,

    Vijay

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