Students should practice The Limited Liability Partnership Act, 2008 – CA Foundation Business Law MCQ Questions with Answers based on the latest syllabus.
The Limited Liability Partnership Act, 2008 – Business Law MCQ Questions with Answers
1. The LLP Act, 2008 came into force from:
(a) 31st March, 2008
(b) 31st March, 2009
(c) 1st April, 2008
(d) 1st April, 2009
Answer:
(b) 31st March, 2009
2. Maximum number of partners in a LLP can be:
(a) 100
(b) 200
(c) 50
(d) Unlimited
Answer:
(d) Unlimited
3. In case of a LLP, the partners are agents of _________.
(a) LLP
(b) Other Partners
(c) Both (a) and (b)
(d) None of the above
Answer:
(a) LLP
4. For reservation of name, e-Form _________ is required.
(a) E-Form 1
(b) E-Form A
(c) E-Form B
(d) E-Form 2
Answer:
(a) E-Form 1
5. Minimum designated partners required in a LLP are:
(a) 1
(b) 2
(c) 3
(d) 0
Answer:
(b) 2
6. Common seal is mandatory for _________.
(a) Company
(b) LLP
(c) Both the above
(d) None of the above
Answer:
(d) None of the above
7. In case of legal non-compliance and penalties under the LLP Act, _________ are responsible.
(a) Partners
(b) Designated Partners
(c) LLP
(d) All the above
Answer:
(b) Designated Partners
State Whether The Following are True or False:
- It is mandatory for a LLP to have a common seal.
- A LLP is not a body corporate.
- Executing an LLP Agreement is discretionary.
- In a LLP, all partners have an unlimited liability.
- Limited Liability Partnership is governed by Partnership Act, 1932.
- Every partner in a LLP is the agent for the purpose of the business of LLP but not of the other partners.
- LLP can be incorporated for charitable purpose as well as for business.
- Foreign Nationals can become a partner in a LLP.
Answer:
- False
- False
- False
- False
- False
- True
- False
- True