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-  

  1. 31st March, 2008
  2. 1st April 2008
  3. 31st March, 2009
  4. 1st April 2009

Answer: 3

Q:2  Which of the following cannot be converted into LLP?

  1. Partnership firm
  2. Private company
  3. Listed company
  4. unlisted company

Answer: 3

Q:3 The approved name of LLP shall be valid for a period of ___ from the date of approval:  

  1. 1 Month
  2. 2 Months
  3. 3 months
  4. 6 months

Answer: 3

Q:4 Name of the Limited Liability Partnership shall be ended by:  

  1. Limited
  2. Limited Liability partnership or LLP
  3. Private Limited
  4. OPC

Answer: 2

Q:5 Which one of the following statements about limited liability partnerships (LLPs) is incorrect?  

  1. An LLP has a legal personality separate from that of its members.
  2. The liability of each partner in an LLP is limited.
  3. Members of an LLP are taxed as partners.
  4. A listed company can convert to an LLP.

Answer: 4

Q:6 For the purpose of LLP, Resident in India means:  

  1. Person who has stayed in India for a period of not less than 182 days during the current year.
  2. Person who has stayed in India for a period of not less than 180 days during the immediately preceding one year.
  3. Person who has stayed in India for a period of not less than 181 days during the immediately preceding one year.
  4. 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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