Practice Test

Q1) Accounts of LLP are to be audited by Show Answer

Q2) Maximum number of partners in LLP is Show Answer

Q3) Agreement for LLP is in From No. Show Answer

Q4) Certificate of incorporation of LLP is issued by Show Answer

Q5) A partner shall cease to be a partner on Show Answer

Q6) Liability of partners in LLP Show Answer

Q7) The details of designated partners is filed with the ROC in Show Answer

Q8) Books of accounts of LLP are to be preserved for Show Answer

Q9) Books of accounts of LLP are maintained on Show Answer

Q10) LLP Act was passed on 2009. Show Answer

Q11) LLP Act is made effective from 31.3.2009 Show Answer

Q12) LLP Rules are made in January, 2010. Show Answer

Q13) At least seven persons can form a LLP. Show Answer

Q14) At least one of the partners of LLP should be a resident in India. Show Answer

Q15) The maximum number of members in a LLP cannot exceed 20. Show Answer

Q16) Form No. 2 is the form of incorporation. Show Answer

Q17) Certificate of incorporation is issued by the Registrar of firm. Show Answer

Q18) As per first schedule to LLP Act, every partner can take part in management of a firm. Show Answer

Q19) Accounts of LLP are to be audited by _______. Show Answer

Q20) Contribution can be ______. Show Answer

Q21) Contribution by a partner to LLP is ______. Show Answer

Q22) Valuation of Contribution may be made by ______. Show Answer

Q23) Contribution has to be refunded on _____. Show Answer

Q24) Audit of LLP is compulsory when ______. Show Answer

Q25) Designated partner must obtain DPIN from _____. Show Answer

Q26) A partner of LLP can be ______. Show Answer

Q27) LLP is created by ______. Show Answer

Q28) LLP can be dissolved by the order of _____. Show Answer

Q29) LLP has ______. Show Answer

Q30) Minimum members required to form a LLP is ______. Show Answer

Q31) Rights/ duties of partners are governed by _______. Show Answer

Q32) LLP Act was passed in 2009. Show Answer

Q33) At least two persons are required to form LLP. Show Answer

Q34) LLP is convenient for professionals. Show Answer

Q35) Registration of LLP is done under The Companies Act 2013. Show Answer

Q36) LLP having turnover exceeding Rs. 40,00,000 must get their accounts audited. Show Answer

Q37) Company cannot become a member of LLP. Show Answer

Q38) Liability of partners under LLP is unlimited. Show Answer

Q39) Designated partners are like directors of a company. Show Answer

Q40) Designated partners are entitled to remuneration. Show Answer

Q41) LLP Agreement must specify the contribution of partners. Show Answer