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Mock Up Test – Global Variant
Question 16In the Contect of a LIMITED LIABILITY PARTNERSHIP, which of the following statements is FALSE?
1. there is no need to file annual financial statement with the Registar of Companies.
2. there shall be at least one partner with unlimited liability
3.”Limited” shall be the last word in the partnership’s name
4. it must have at least two members.answer is 3.”Limited” shall be the last word in the partnership’s name.
aren’t 1, 2, & 4 refer to LIMITED PARTNERSHIP?
? Limited Partnerships Act 1907 main features are :-
? at least one general partner ( with unlimited liability ) and one limited partner ( with limited liability )
? must be registered with the registrar of companies
? limited partner should take no part in the management of the firm
? if the firm becomes bankrupt, only the general partners are liable for the firm’s debtsPlus Limited Liability Partnership require for annual filing
? Limited Liability Partnerships Act 2000 main features are :-
? combination of the advantages of a partnership with those of a limited company
? must be registered with the registrar of companies
? must file financial statements and be auditedSo, i think the question is wrong and need to change from Limited Liability Partnership to Limited Partnership
I answered this question when you posted under the thread title ‘LLP vs LP’ and I’ve only just received these latest two posts even though they are timed 14 hours earlier
Incidentally, when posting questions on the forums, it’s not necessary to indulge in multiple posts of the same question!
OK?
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