Unit 4
Chapter 6
Limited Liability Partnership Act 2008
āϏীāĻŽিāϤ āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻ ংāĻļীāĻĻাā§°িāϤ্āĻŦ āĻāĻāύ 2008
Questions
āĻĒ্ā§°āĻļ্āύāϏāĻŽূāĻš
MULTIPLE CHOICE QUESTIONS (MCQ'S)
āĻāĻাāϧিāĻ āĻŦিāĻāϞ্āĻĒ āĻĒ্ā§°āĻļ্āύ (āĻāĻŽāĻিāĻিāĻā§°) 1. LLP does not have?
1. āĻāϞāĻāϞāĻĒিā§° āύাāĻ?
(a) MOA (b) AOA (c) Share Capital (d) All of the above.
(āĻ) āĻāĻŽ.āĻ.āĻ. (āĻ) āĻ.āĻ.āĻ.
(āĻ) āĻļ্āĻŦেāϝ়াā§° āĻেāĻĒিāĻেāϞ (āĻ) āĻāĻĒā§°োāĻ্āϤ āϏāĻāϞোāĻŦোā§°।
Ans: (d) All of the above.
2. How many minimum partners are required for a LLP ?
2. āĻāϞāĻāϞāĻĒি āĻāĻাā§° āĻŦাāĻŦে āĻিāĻŽাāύāĻāύ āύিāĻŽ্āύāϤāĻŽ āĻ ংāĻļীāĻĻাā§°ā§° āĻĒ্ā§°āϝ়োāĻāύ?
(a) 3 (b) 2 (c) 4 (d) 1
(āĻ) ā§Š (āĻ) ⧍
(āĻ) ā§Ē (āĻ) ā§§
Ans: (b) 2
āĻāϤ্āϤ⧰: (āĻ) ⧍
3. Partners in a LLP are its :
3. āĻāϞāĻāϞāĻĒি āĻāĻাā§° āĻ ংāĻļীāĻĻাā§°āĻšৈāĻে āĻāϝ়াā§°:
(a) employees (b) guarantors (c) agents (d) None of the above.
(āĻ) āĻā§°্āĻŽāĻাā§°ী (āĻ) āĻেā§°াāĻŖ্āĻā§°
(āĻ) āĻāĻেāĻŖ্āĻ (āĻ) āĻāĻĒā§°ā§° āĻোāύোāĻো āύāĻšāϝ়।
Ans: (c) agents
āĻāϤ্āϤ⧰: (āĻ) āĻāĻেāĻŖ্āĻ
4. Which of the following must be a clause in LLP agreement?
4. āύিāĻŽ্āύāϞিāĻিāϤ āĻোāύāĻো āĻāϞāĻāϞāĻĒি āĻুāĻ্āϤিā§° āĻāĻা āϧাā§°া āĻš'āĻŦ āϞাāĻিāĻŦ?
(a) Name of LLP (b) Registered office of LLP (c) Details of partners (d) All of the above
(e) None of the above.
(āĻ) āĻāϞāĻāϞāĻĒিā§° āύাāĻŽ (āĻ) āĻāϞāĻāϞāĻĒিā§° āĻĒāĻ্āĻীāĻুāĻ্āϤ āĻাā§°্āϝাāϞāϝ় (āĻ) āĻ ংāĻļীāĻĻাā§°ā§° āĻŦিā§ąā§°āĻŖ (āĻ) āĻāĻĒā§°োāĻ্āϤ āϏāĻāϞোāĻŦোā§°
(āĻ) āĻāĻĒā§°ā§° āĻোāύোāĻো āύāĻšāϝ়।
Ans: (d) All of the above
āĻāϤ্āϤ⧰: (āĻ) āĻāĻĒā§°ā§° āϏāĻāϞোāĻŦোā§°
FILL IN THE BLANKS
āĻাāϞী āĻ াāĻāĻŦোā§° āĻĒূā§°āĻŖ āĻā§°āĻ
1. Indian Partnership Act, 1932 ........ applicable to LLP's. (is/is not)
1. āĻাā§°āϤীāϝ় āĻ ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āĻāĻāύ, 1932 ....... āĻāϞāĻāϞāĻĒিā§° āĻ্āώেāϤ্ā§°āϤ āĻĒ্ā§°āϝোāĻ্āϝ। (āĻšāϝ়/āύāĻšāϝ়)
Ans: 1. is not
āĻāϤ্āϤ⧰: 1. āύāĻšāϝ়
2. LLP is a ............ legal entity. (group/separate)
2. āĻāϞāĻāϞāĻĒি āĻšৈāĻে āĻāĻা .... āĻāĻāύী āϏāϤ্āϤা। (āĻোāĻ/āĻĒৃāĻĨāĻ)
Ans: 2. separate
āĻāϤ্āϤ⧰: 2. āĻĒৃāĻĨāĻ
3. Registration is ............. for a LLP. (optional/compulsory)
3. āĻĒāĻ্āĻীāϝ়āύ āĻšৈāĻে ......... āĻāϞāĻāϞāĻĒি ā§° āĻŦাāĻŦে। (āĻŦৈāĻāϞ্āĻĒিāĻ/āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ)
āĻāϤ্āϤ⧰: 3. āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ
4. Annual Return of a LLP must be filed annually with the.......... (ROC/Supreme Court)
4. āĻāϞāĻāϞāĻĒি āĻāĻাā§° āĻŦাā§°্āώিāĻ ā§°িāĻাā§°্āĻŖ āĻŦাā§°্āώিāĻ.... (āĻā§°.āĻ.āĻি./āĻāĻ্āĻāϤāĻŽ āύ্āϝাāϝ়াāϞāϝ়)
5. It .......... is for partners to form a LLP agreement. (compulsory/optional)
5. āĻāĻāĻো ... āĻ ংāĻļীāĻĻাā§°āϏāĻāϞে āĻāϞāĻāϞāĻĒি āĻুāĻ্āϤি āĻāĻ āύ āĻā§°িāĻŦ। (āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ/āĻŦৈāĻāϞ্āĻĒিāĻ)
Ans: 5. optional.
āĻāϤ্āϤ⧰: 5. āĻŦৈāĻāϞ্āĻĒিāĻ।
TRUE/FALSE
āϏāϤ্āϝ/āĻŽিāĻা 1. It is mandatory for partners to contribute capital in LLP.
1. āĻ ংāĻļীāĻĻাā§°āϏāĻāϞে āĻāϞāĻāϞāĻĒিāϤ āĻŽূāϞāϧāύ āĻ ā§°িāĻšāĻŖা āϝোāĻোā§ąাāĻো āĻŦাāϧ্āϝāϤাāĻŽূāϞāĻ।
Ans: 1. False
āĻāϤ্āϤ⧰: 1. āĻŽিāĻা
2. LLP is not taxed under the Income Tax Act, 1961.
2. āĻāϝ়āĻā§° āĻāĻāύ, 1961-ā§° āĻ āϧীāύāϤ āĻāϞāĻāϞāĻĒিā§° āĻāĻĒā§°āϤ āĻā§° āĻā§°োāĻĒ āĻā§°া āύāĻšāϝ়।
Ans: 2. False
āĻāϤ্āϤ⧰: 2. āĻŽিāĻা
3. Every LLP must have words "Limited Liability Partnership" or "LLP" as the last words of its name.
3. āĻĒ্ā§°āϤিāĻো āĻāϞāĻāϞāĻĒিā§° āύাāĻŽā§° āĻ āύ্āϤিāĻŽ āĻļāĻŦ্āĻĻ āĻšিāĻাāĻĒে "āϏীāĻŽিāϤ āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻ ংāĻļীāĻĻাā§°ীāϤ্āĻŦ" āĻŦা "āĻāϞāĻāϞāĻĒি" āĻļāĻŦ্āĻĻ āĻĨাāĻিāĻŦ āϞাāĻিāĻŦ।
Ans: True
āĻāϤ্āϤ⧰: āϏঁāĻা
4. The rights & liabilities of partners of LLP are stated in the LLP agreement.
4. āĻāϞāĻāϞāĻĒিā§° āĻ ংāĻļীāĻĻাā§°āϏāĻāϞ⧰ āĻ āϧিāĻাā§° āĻā§°ু āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻāϞāĻāϞāĻĒি āĻুāĻ্āϤিāϤ āĻāϞ্āϞেāĻ āĻā§°া āĻšৈāĻে।
Ans: 4. True.
āĻāϤ্āϤ⧰: 4. āϏঁāĻা।
SHORT QUESTIONS
āĻāĻŽু āĻĒ্ā§°āĻļ্āύ 1. Define a LLP.
1. āĻāϞāĻāϞāĻĒি āĻāĻা āύিā§°্āϧাā§°āĻŖ āĻā§°āĻ।
Ans:
2. Discuss the nature of LLP in brief.
2. āĻāϞāĻāϞāĻĒিā§° āĻĒ্ā§°āĻৃāϤি āĻāĻŽুāĻৈ āĻāϞোāĻāύা āĻā§°āĻ।
Ans:
3. Differentiate between:
3. āĻāϝ়াā§° āĻŽাāĻāϤ āĻĒাā§°্āĻĨāĻ্āϝ āĻā§°āĻ:
(a) LLP and a company (b) LLP and Partnership Firm.
(āĻ) āĻāϞāĻāϞāĻĒি āĻā§°ু āĻāĻা āĻোāĻŽ্āĻĒাāύী
(āĻ) āĻāϞāĻāϞāĻĒি āĻā§°ু āĻ ংāĻļীāĻĻাā§°ী āĻĢাā§°্āĻŽ।
Ans:
4. Who is a partner in a LLP?
4. āĻāϞāĻāϞāĻĒিā§° āĻ ংāĻļীāĻĻাā§° āĻোāύ?
Ans:
5. What are the disqualifications for becoming a partner?
5. āĻ ংāĻļীāĻĻাā§° āĻšোā§ąাā§° āĻŦাāĻŦে āĻ āϝোāĻ্āϝāϤাāĻŦোā§° āĻি?
Ans:
6. Who is a designated partner in a LLP?
6. āĻāϞāĻāϞāĻĒি-āϤ āĻŽāύোāύীāϤ āĻ ংāĻļীāĻĻাā§° āĻোāύ?
Ans:
7. Define Incorporation Document.
7. āĻāύāĻā§°্āĻĒোā§°েāĻāύ āĻĄāĻুāĻŽেāĻŖ্āĻ āύিā§°্āϧাā§°āĻŖ āĻā§°āĻ।
Ans:
8. What is incorporation of LLP by registration?
8. āĻĒāĻ্āĻীāϝ়āύ⧰ āĻĻ্āĻŦাā§°া āĻāϞāĻāϞāĻĒি āĻ āύ্āϤ⧰্āĻুāĻ্āϤ āĻā§°া āĻো āĻি?
Ans:
9. What is the consequence of registration of LLP?
9. āĻāϞāĻāϞāĻĒি āĻĒāĻ্āĻীāϝ়āύ⧰ āĻĒā§°িāĻŖাāĻŽ āĻি?
Ans:
10. Explain the disqualifications for appointment as a designated partner.
10. āĻāĻāύ āύিā§°্āϧাā§°িāϤ āĻ ংāĻļীāĻĻাā§° āĻšিāĻাāĻĒে āύিāϝুāĻ্āϤিā§° āĻŦাāĻŦে āĻ āϝোāĻ্āϝāϤাāĻŦোā§° āĻŦā§°্āĻŖāύা āĻā§°āĻ।
Ans:
11. Write a short note on minimum number of partners in a LLP.
11. āĻāϞāĻāϞāĻĒি āĻāĻাāϤ āύিāĻŽ্āύāϤāĻŽ āĻ ংāĻļীāĻĻাā§°ā§° āϏংāĻ্āϝাā§° āĻāĻĒā§°āϤ āĻāĻা āĻāĻŽু āĻোāĻা āϞিāĻāĻ।
Ans:
LONG QUESTIONS
āĻĻীāĻāϞীāϝ়া āĻĒ্ā§°āĻļ্āύ
1. Discuss the legal framework & features of LLP.
1. āĻāϞāĻāϞāĻĒিā§° āĻāĻāύী āĻĒā§°িāĻাāĻ াāĻŽো āĻā§°ু āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āĻāϞোāĻāύা āĻā§°āĻ।
Ans:
2. What is a LLP agreement? What are the contents of such agreement?
2. āĻāϞāĻāϞāĻĒি āĻুāĻ্āϤি āĻি? āĻāύে āĻুāĻ্āϤিā§° āĻŦিāώāϝ়āĻŦāϏ্āϤু āĻি?
Ans:
3. Discuss the provisions regarding designated partners.
3. āύিā§°্āϧাā§°িāϤ āĻ ংāĻļীāĻĻাā§°āϏāĻŽ্āĻĒā§°্āĻীāϝ় āĻŦ্āĻ¯ā§ąāϏ্āĻĨাāĻŦোā§° āĻāϞোāĻāύা āĻā§°āĻ।
Ans:
4. Discuss in detail the relationship between partners of LLP.
4. āĻāϞāĻāϞāĻĒিā§° āĻ ংāĻļীāĻĻাā§°āϏāĻāϞ⧰ āĻŽাāĻā§° āϏāĻŽ্āĻĒā§°্āĻ āĻŦিāϤংāĻাā§ąে āĻāϞোāĻāύা āĻā§°āĻ।
Ans: