Unit 4 

Chapter 6

Limited Liability Partnership Act 2008 

āϏীāĻŽিāϤ āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦ āφāχāύ 2008 

Questions

āĻĒ্ā§°āĻļ্āύāϏāĻŽূāĻš

MULTIPLE CHOICE QUESTIONS (MCQ'S)

āĻāĻ•াāϧিāĻ• āĻŦিāĻ•āϞ্āĻĒ āĻĒ্ā§°āĻļ্āύ (āĻāĻŽāϚিāĻ•িāω⧰) 1. LLP does not have?

1. āĻāϞāĻāϞāĻĒিā§° āύাāχ?

(a) MOA (b) AOA (c) Share Capital (d) All of the above.

(āĻ•) āĻāĻŽ.āĻ“.āĻ. (āĻ–) āĻ.āĻ“.āĻ.

(āĻ—) āĻļ্āĻŦেāϝ়াā§° āĻ•েāĻĒিāϟেāϞ (āϘ) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°।

Ans: (d) All of the above.

2. How many minimum partners are required for a LLP ?

2. āĻāϞāĻāϞāĻĒি āĻāϟাā§° āĻŦাāĻŦে āĻ•িāĻŽাāύāϜāύ āύিāĻŽ্āύāϤāĻŽ āĻ…ংāĻļীāĻĻাā§°ā§° āĻĒ্ā§°āϝ়োāϜāύ?

(a) 3 (b) 2 (c) 4 (d) 1

(āĻ•) ā§Š (āĻ–) ⧍

(āĻ—) ā§Ē (āϘ) ā§§

Ans: (b) 2

āωāϤ্āϤ⧰: (āĻ–) ⧍


3. Partners in a LLP are its :

3. āĻāϞāĻāϞāĻĒি āĻāϟাā§° āĻ…ংāĻļীāĻĻাā§°āĻšৈāĻ›ে āχāϝ়াā§°:

(a) employees (b) guarantors (c) agents (d) None of the above.

(āĻ•) āϕ⧰্āĻŽāϚাā§°ী (āĻ–) āĻ—েā§°াāĻŖ্āϟ⧰

(āĻ—) āĻāϜেāĻŖ্āϟ (āϘ) āĻ“āĻĒā§°ā§° āĻ•োāύোāϟো āύāĻšāϝ়।

Ans: (c) agents

āωāϤ্āϤ⧰: (āĻ—) āĻāϜেāĻŖ্āϟ 


4. Which of the following must be a clause in LLP agreement?

4. āύিāĻŽ্āύāϞিāĻ–িāϤ āĻ•োāύāϟো āĻāϞāĻāϞāĻĒি āϚুāĻ•্āϤিā§° āĻāϟা āϧাā§°া āĻš'āĻŦ āϞাāĻ—িāĻŦ?

(a) Name of LLP (b) Registered office of LLP (c) Details of partners (d) All of the above

(e) None of the above.

(āĻ•) āĻāϞāĻāϞāĻĒিā§° āύাāĻŽ (āĻ–) āĻāϞāĻāϞāĻĒিā§° āĻĒāĻž্āϜীāĻ­ুāĻ•্āϤ āĻ•াā§°্āϝাāϞāϝ় (āĻ—) āĻ…ংāĻļীāĻĻাā§°ā§° āĻŦিā§ąā§°āĻŖ (āϘ) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°

(āĻ™) āĻ“āĻĒā§°ā§° āĻ•োāύোāϟো āύāĻšāϝ়।

Ans: (d) All of the above

āωāϤ্āϤ⧰: (āϘ) āĻ“āĻĒā§°ā§° āϏāĻ•āϞোāĻŦোā§°


FILL IN THE BLANKS

āĻ–াāϞী āĻ াāχāĻŦোā§° āĻĒূā§°āĻŖ āϕ⧰āĻ•

1. Indian Partnership Act, 1932 ........ applicable to LLP's. (is/is not)

1. āĻ­াā§°āϤীāϝ় āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āφāχāύ, 1932 ....... āĻāϞāĻāϞāĻĒিā§° āĻ•্āώেāϤ্ā§°āϤ āĻĒ্ā§°āϝোāϜ্āϝ। (āĻšāϝ়/āύāĻšāϝ়)

Ans: 1. is not

āωāϤ্āϤ⧰: 1. āύāĻšāϝ় 


2. LLP is a ............ legal entity. (group/separate)

2. āĻāϞāĻāϞāĻĒি āĻšৈāĻ›ে āĻāϟা .... āφāχāύী āϏāϤ্āϤা।   (āĻ—োāϟ/āĻĒৃāĻĨāĻ•)

Ans: 2. separate

āωāϤ্āϤ⧰: 2. āĻĒৃāĻĨāĻ• 


3. Registration is ............. for a LLP. (optional/compulsory)

3. āĻĒāĻž্āϜীāϝ়āύ āĻšৈāĻ›ে ......... āĻāϞāĻāϞāĻĒি ā§° āĻŦাāĻŦে। (āĻŦৈāĻ•āϞ্āĻĒিāĻ•/āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ•)

Ans: 3. compulsory

āωāϤ্āϤ⧰: 3. āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ• 


4. Annual Return of a LLP must be filed annually with the.......... (ROC/Supreme Court)

4. āĻāϞāĻāϞāĻĒি āĻāϟাā§° āĻŦাā§°্āώিāĻ• ā§°িāϟাā§°্āĻŖ āĻŦাā§°্āώিāĻ•....   (āφ⧰.āĻ“.āϚি./āωāϚ্āϚāϤāĻŽ āύ্āϝাāϝ়াāϞāϝ়)

Ans: 4. ROC
āωāϤ্āϤ⧰: 4. āφ⧰.āĻ“.āϚি. 

5. It .......... is for partners to form a LLP agreement. (compulsory/optional)

5. āĻāχāϟো ... āĻ…ংāĻļীāĻĻাā§°āϏāĻ•āϞে āĻāϞāĻāϞāĻĒি āϚুāĻ•্āϤি āĻ—āĻ āύ āϕ⧰িāĻŦ।  (āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ•/āĻŦৈāĻ•āϞ্āĻĒিāĻ•)

Ans: 5. optional.

āωāϤ্āϤ⧰: 5. āĻŦৈāĻ•āϞ্āĻĒিāĻ•।


TRUE/FALSE

āϏāϤ্āϝ/āĻŽিāĻ›া 1. It is mandatory for partners to contribute capital in LLP.

1. āĻ…ংāĻļীāĻĻাā§°āϏāĻ•āϞে āĻāϞāĻāϞāĻĒিāϤ āĻŽূāϞāϧāύ āĻ…ā§°িāĻšāĻŖা āϝোāĻ—োā§ąাāϟো āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ•।

Ans: 1. False

āωāϤ্āϤ⧰: 1. āĻŽিāĻ›া 


2. LLP is not taxed under the Income Tax Act, 1961.

2. āφāϝ়āϕ⧰ āφāχāύ, 1961-ā§° āĻ…āϧীāύāϤ āĻāϞāĻāϞāĻĒিā§° āĻ“āĻĒā§°āϤ āϕ⧰ āφ⧰োāĻĒ āϕ⧰া āύāĻšāϝ়।

Ans: 2. False

āωāϤ্āϤ⧰: 2. āĻŽিāĻ›া 


3. Every LLP must have words "Limited Liability Partnership" or "LLP" as the last words of its name.

3. āĻĒ্ā§°āϤিāϟো āĻāϞāĻāϞāĻĒিā§° āύাāĻŽā§° āĻ…āύ্āϤিāĻŽ āĻļāĻŦ্āĻĻ āĻšিāϚাāĻĒে "āϏীāĻŽিāϤ āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ" āĻŦা "āĻāϞāĻāϞāĻĒি" āĻļāĻŦ্āĻĻ āĻĨাāĻ•িāĻŦ āϞাāĻ—িāĻŦ।

Ans: True

āωāϤ্āϤ⧰: āϏঁāϚা 


4. The rights & liabilities of partners of LLP are stated in the LLP agreement.

4. āĻāϞāĻāϞāĻĒিā§° āĻ…ংāĻļীāĻĻাā§°āϏāĻ•āϞ⧰ āĻ…āϧিāĻ•াā§° āφ⧰ু āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻāϞāĻāϞāĻĒি āϚুāĻ•্āϤিāϤ āωāϞ্āϞেāĻ– āϕ⧰া āĻšৈāĻ›ে। 

Ans: 4. True.

āωāϤ্āϤ⧰: 4. āϏঁāϚা।


SHORT QUESTIONS

āϚāĻŽু āĻĒ্ā§°āĻļ্āύ 1. Define a LLP.

1. āĻāϞāĻāϞāĻĒি āĻāϟা āύিā§°্āϧাā§°āĻŖ āϕ⧰āĻ•।

Ans:

2. Discuss the nature of LLP in brief.

2. āĻāϞāĻāϞāĻĒিā§° āĻĒ্ā§°āĻ•ৃāϤি āϚāĻŽুāĻ•ৈ āφāϞোāϚāύা āϕ⧰āĻ•।

Ans:

3. Differentiate between:

3. āχāϝ়াā§° āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰āĻ•:

(a) LLP and a company (b) LLP and Partnership Firm.

(āĻ•) āĻāϞāĻāϞāĻĒি āφ⧰ু āĻāϟা āĻ•োāĻŽ্āĻĒাāύী

(āĻ–) āĻāϞāĻāϞāĻĒি āφ⧰ু āĻ…ংāĻļীāĻĻাā§°ী āĻĢাā§°্āĻŽ।

Ans:


4. Who is a partner in a LLP?

4. āĻāϞāĻāϞāĻĒিā§° āĻ…ংāĻļীāĻĻাā§° āĻ•োāύ?

Ans:

5. What are the disqualifications for becoming a partner?

5. āĻ…ংāĻļীāĻĻাā§° āĻšোā§ąাā§° āĻŦাāĻŦে āĻ…āϝোāĻ—্āϝāϤাāĻŦোā§° āĻ•ি?

Ans:

6. Who is a designated partner in a LLP?

6. āĻāϞāĻāϞāĻĒি-āϤ āĻŽāύোāύীāϤ āĻ…ংāĻļীāĻĻাā§° āĻ•োāύ?

Ans:

7. Define Incorporation Document.

7. āχāύāϕ⧰্āĻĒোā§°েāϚāύ āĻĄāĻ•ুāĻŽেāĻŖ্āϟ āύিā§°্āϧাā§°āĻŖ āϕ⧰āĻ•।

Ans:

8. What is incorporation of LLP by registration?

8. āĻĒāĻž্āϜীāϝ়āύ⧰ āĻĻ্āĻŦাā§°া āĻāϞāĻāϞāĻĒি āĻ…āύ্āϤ⧰্āĻ­ুāĻ•্āϤ āϕ⧰া āϟো āĻ•ি?

Ans:

9. What is the consequence of registration of LLP?

9. āĻāϞāĻāϞāĻĒি āĻĒāĻž্āϜীāϝ়āύ⧰ āĻĒā§°িāĻŖাāĻŽ āĻ•ি?

Ans:

10. Explain the disqualifications for appointment as a designated partner.

10. āĻāϜāύ āύিā§°্āϧাā§°িāϤ āĻ…ংāĻļীāĻĻাā§° āĻšিāϚাāĻĒে āύিāϝুāĻ•্āϤিā§° āĻŦাāĻŦে āĻ…āϝোāĻ—্āϝāϤাāĻŦোā§° āĻŦā§°্āĻŖāύা āϕ⧰āĻ•। 

Ans:


11. Write a short note on minimum number of partners in a LLP.

11. āĻāϞāĻāϞāĻĒি āĻāϟাāϤ āύিāĻŽ্āύāϤāĻŽ āĻ…ংāĻļীāĻĻাā§°ā§° āϏংāĻ–্āϝাā§° āĻ“āĻĒā§°āϤ āĻāϟা āϚāĻŽু āϟোāĻ•া āϞিāĻ–āĻ•।

Ans:

LONG QUESTIONS

āĻĻীāϘāϞীāϝ়া āĻĒ্ā§°āĻļ্āύ

1. Discuss the legal framework & features of LLP.

1. āĻāϞāĻāϞāĻĒিā§° āφāχāύী āĻĒā§°িāĻ•াāĻ াāĻŽো āφ⧰ু āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āφāϞোāϚāύা āϕ⧰āĻ•।

Ans:

2. What is a LLP agreement? What are the contents of such agreement?

2. āĻāϞāĻāϞāĻĒি āϚুāĻ•্āϤি āĻ•ি? āĻāύে āϚুāĻ•্āϤিā§° āĻŦিāώāϝ়āĻŦāϏ্āϤু āĻ•ি?

Ans:

3. Discuss the provisions regarding designated partners.

3. āύিā§°্āϧাā§°িāϤ āĻ…ংāĻļীāĻĻাā§°āϏāĻŽ্āĻĒā§°্āĻ•ীāϝ় āĻŦ্āĻ¯ā§ąāϏ্āĻĨাāĻŦোā§° āφāϞোāϚāύা āϕ⧰āĻ•।

Ans:

4. Discuss in detail the relationship between partners of LLP.

4. āĻāϞāĻāϞāĻĒিā§° āĻ…ংāĻļীāĻĻাā§°āϏāĻ•āϞ⧰ āĻŽাāϜ⧰ āϏāĻŽ্āĻĒā§°্āĻ• āĻŦিāϤংāĻ­াā§ąে āφāϞোāϚāύা āϕ⧰āĻ•।

Ans:


Post Id: DABP003560