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Commerce · Q827

Legal Aspects of Business

Graduate and Post Graduate · Commerce · question 827

Q827

Which one of the following statements about limited liability partnerships is incorrect?

A.
An LLP has a legal personality separate from that of its members
B.
The liability of each partner in an LLP is limited
C.
Members of an LLP are taxed as partners
D.
A limited company can convert to an LLP
Answer

Answer: Option D

Solution

Answer: Option D
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