Maximum no. of persons in case of partnership banking business ___________

Generally partnership firm liability is

The partnership entity may be regarded as ____________.

Can the partners enter into the contract with the firm?

Maximum no. of persons in case of partnership banking business ___________

Generally partnership firm liability is

A company can enter into partnership with one or more individuals or another company.

Generally rights and obligations of the Partnership firm are regulated by__________

The limit of number of members for formation of association or partnership of person’s is_________.

Statement 1- A basic difference between an LLP and a joint stock company lies in that the internal governance structure,

Statement 2- in case of a company is regulated by Companies Act. 2013 whereas for an LLP it would be by a contractual agreement between partners.

Statement 1-LLP form is a form of business model which provides flexibility without imposing detailed legal and procedural requirements. Statement 2 - Under LLP structure, liability of the partner is unlimited.

Statement 1-LLP shall be a body corporate and a legal entity separate from its partners.

Statement 2-it will not have perpetual succession.

Statement 1-LLP contains elements of both a corporate structure as well as a partnership firm structure.

Statement 2-LLP is called a hybrid between a company and partnership.

Mutual rights and duties of the partners within a LLP are governed by an ___________ between the partners or between the partners and the LLP as the case may be.

In case of an _______ no partner is liable on account of the independent or unauthorised actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.

LLP is a separate legal entity is liable to the full extent of its assets but liability of the partners is ________ to their agreed contribution in the LLP.

LLP can continue its existence irrespective of changes in partners it is capable of entering into contracts and _______ in its own name.

LLP is an alternative corporate business form that gives the benefits of limited liability of a __________ and the flexibility of a partnership.

Which one of the following is correct statement?

Minimum members in the case of partnership doing banking business is __________

Limit of number of members for formation of association or partnership of persons is fifty (50)

Rule-10 of Companies (Miscellaneous) Rules provides that no association or partnership can be formed with the number of members exceeding fifty (50).

No association or partnership can be formed with the number of members exceeding two hundred

A partnership may be regarded as ___________

Transfer of shares in Partnership firm is

Generally rights and obligations of the Partnership Firm are regulated in

In the case of partnership firm, audit is

Partners are ______ of the firm

Generally partnership firm liability is

Maximum number of persons in case of partnership business ______