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Questions and Answers
What is the main purpose of an LLP act?
What is the main purpose of an LLP act?
- To regulate small businesses
- To form a limited liability partnership (correct)
- To establish a corporation
- To dissolve a limited liability partnership
What happens when the LLP act is invoked?
What happens when the LLP act is invoked?
- The partners become personally liable for debts
- The partnership gets expanded
- The partners receive tax benefits
- The partnership ceases to exist (correct)
Which of the following is NOT a function of the LLP act?
Which of the following is NOT a function of the LLP act?
- To regulate the formation and operation of LLPs
- To specify the rights and duties of partners
- To provide limited liability to partners
- To increase partnership liability (correct)
What role does the Registrar of Companies play in dissolving an LLP based on the text?
What role does the Registrar of Companies play in dissolving an LLP based on the text?
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What is the first step to dissolve an LLP as per the text?
What is the first step to dissolve an LLP as per the text?
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Why is it important to notify all partners in writing when dissolving an LLP?
Why is it important to notify all partners in writing when dissolving an LLP?
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In the context of ratio and proportion, if 5 apples cost $10, how much will 8 apples cost?
In the context of ratio and proportion, if 5 apples cost $10, how much will 8 apples cost?
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If the ratio of boys to girls in a class is 2:3 and there are 30 students in total, how many girls are in the class?
If the ratio of boys to girls in a class is 2:3 and there are 30 students in total, how many girls are in the class?
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If it takes 4 painters 6 days to paint a house, how many days will it take for 5 painters to paint the same house?
If it takes 4 painters 6 days to paint a house, how many days will it take for 5 painters to paint the same house?
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