Job Searching Myths
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Job Searching Myths

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@FunnyPond

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Questions and Answers

Which of the following is NOT a requirement to start a business in India?

  • Registering the business with the Registrar of Companies
  • Obtaining a Permanent Account Number (PAN) from the Income Tax Department
  • Owning property in India (correct)
  • Obtaining a Goods and Services Tax (GST) registration

    • What is the maximum number of partners allowed in a partnership firm in India?

  • 10
  • 20
  • 15
  • 5 (correct)

    • Which of the following is a benefit of registering a business as a Limited Liability Partnership (LLP) in India?

  • No need to file annual returns
  • No requirement for a registered office
  • Limited liability for the partners (correct)
  • Unlimited liability for the partners

    • Which type of business entity in India provides limited liability to its owners?

    <p>Private Limited Company</p> Signup and view all the answers

    What is the minimum number of partners required to start a Limited Liability Partnership (LLP) in India?

    <p>2</p> Signup and view all the answers

    What is the most common type of business entity in India?

    <p>Sole Proprietorship</p> Signup and view all the answers

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