• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Question 40 of ACCA speciment exam

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Question 40 of ACCA speciment exam

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • November 29, 2017 at 4:14 pm #418918
    lg88
    Member
    • Topics: 2
    • Replies: 10
    • ☆

    Hi,

    I’m a bit confused by question 40 from the free specimen exam (on the ACCA website and kaplan exam kit):

    “Which TWO statements are correct in relation to designated members in limited liability partnerships (LLPs)?
    -They have limited liability
    -They must not take part in the day-to-day operation of the business
    -They are responsible for filing the LLP’s accounts
    -They are fully liable for partnership debts”

    I thought the answer would be limited liability and they are responsible for filing the LLP accounts.

    But it’s stating the correct answer is that they are fully liable for partnership debts. I thought LLP members had liability limited to their capital contribution?

    Thanks

    Leah

    November 29, 2017 at 5:59 pm #418951
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23318
    • ☆☆☆☆☆

    The designated members are those members that are designated as having unlimited liability

    The reason is that there has to be at least one member with unlimited liability and that’s the one known as the designated member

    OK?

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘Question 40 of ACCA speciment exam’ is closed to new replies.

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • maryrena77 on The nature and structure of organisations – ACCA Paper BT
  • vi234 on MA Chapter 4 Questions Cost Classification and Behaviour
  • vi234 on MA Chapter 4 Questions Cost Classification and Behaviour
  • John Moffat on The financial management environment – ACCA Financial Management (FM)
  • Lekhanaa on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in