1. Ministry of Corporate Affairs enforced the LLP Act, with effect from-
A) 31st March, 2008
B) 1st April 2008
C) 31st March, 2009 ✓
D) 1st April 2009
CA Foundation Paper 2
The Limited Liability Partnership Act, 2008 MCQ
Chapter 5 • 8 Questions from ICAI Study Material
Questions
8
Est. Time
6 min
Source
ICAI Book
Question 1 of 8 0 correct | 0 wrong
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Sample Questions: The Limited Liability Partnership Act, 2008
Preview 8 of 8 MCQs from Chapter 5
2. Whether partnership law applies to the LLP-
A) Yes
B) No ✓
3. State which of the statement is correct under the Limited Liability Partnership Act, 2008-
A) All partners have unlimited liability
B) All partners have limited liability ✓
4. Which of the following cannot be converted into LLP?
A) Partnership firm
B) Private company
C) Listed company ✓
D) unlisted company
5. The approved name of LLP shall be valid for a period of ___ from the date of approval:
A) 1 Month
B) 2 Months
C) 3 months ✓
D) 6 months
6. Name of the Limited Liability Partnership shall be ended by:
A) Limited
B) Limited Liability partnership or LLP ✓
C) Private Limited
D) OPC
7. Which one of the following statements about limited liability partnerships (LLPs) is incorrect?
A) An LLP has a legal personality separate from that of its members.
B) The liability of each partner in an LLP is limited.
C) Members of an LLP are taxed as partners.
D) A listed company can convert to an LLP. ✓
8. For the purpose of LLP, Resident in India means:
A) Person who has stayed in India for a period of not less than 182 days during the current year.
B) Person who has stayed in India for a period of not less than 180 days during the immediately preceding one year.
C) Person who has stayed in India for a period of not less than 181 days during the immediately preceding one year.
D) Person who has stayed in India for a period of not less than 120 days during the financial year. ✓