MCQ for CA Foundation LAW - PART 1 - BUSINESS LAW - Chapter 4 THE LIMITED LIABILITY PARTNERSHIP ACT, 2008
Sample Multiple Choice Questions (MCQ's) for CA Foundation - Paper 2 - Business Laws and Business Correspondence and Reporting- PART 1 - BUSINESS LAW - Chapter 4: THE LIMITED LIABILITY PARTNERSHIP ACT, 2008 - For Practice relevant for Dec 22 and May/June 23 Examinations
Q:1 Ministry of Corporate Affairs enforced the LLP Act, with effect from-
- 31st March, 2008
- 1st April 2008
- 31st March, 2009
- 1st April 2009
Answer: 3
Q:2 Which of the following cannot be converted into LLP?
- Partnership firm
- Private company
- Listed company
- unlisted company
Answer: 3
Q:3 The approved name of LLP shall be valid for a period of ___ from the date of approval:
- 1 Month
- 2 Months
- 3 months
- 6 months
Answer: 3
Q:4 Name of the Limited Liability Partnership shall be ended by:
- Limited
- Limited Liability partnership or LLP
- Private Limited
- OPC
Answer: 2
Q:5 Which one of the following statements about limited liability partnerships (LLPs) is incorrect?
- An LLP has a legal personality separate from that of its members.
- The liability of each partner in an LLP is limited.
- Members of an LLP are taxed as partners.
- A listed company can convert to an LLP.
Answer: 4
Q:6 For the purpose of LLP, Resident in India means:
- Person who has stayed in India for a period of not less than 182 days during the current year.
- Person who has stayed in India for a period of not less than 180 days during the immediately preceding one year.
- Person who has stayed in India for a period of not less than 181 days during the immediately preceding one year.
- Person who has stayed in India for a period of not less than 182 days during the immediately preceding one year.
Answer: 4
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