MCQ on Limited Liability Partnership Act- Judiciary DJS Mock
- Publication of name and limited liability is provided in section of LLP Act 2008
- a Section 24 of LLP Act 2008
- b Section 22 of LLP Act 2008
- c Section 21of LLP Act 2008
- d Section 23 of LLP Act 2008
Correct: C
2. Section 12 of LLP Act 2008 deals with…?
- A. Incorporation by registration
- B. LLP to be body corporate
- C. Reservation of Name
- D. Partner as agent
Correct: A
3. Maximum number of partners in an LLP can be:
- a 100
- b 200
- c 5O
- d Unlimited
Correct: D
4. Minium designated partners required in an LLP are:
- A. 1
- B. 2
- C. 3
- D. 0
Correct: B
5. Who is the authority to grant compounding of an offence under the LLP Act:
- a The Registrar of Firms
- b The Central Government
- c The Registrar
- d The Registrar of Co-operatives
Correct: B
6. If the LLP contravenes the provisions of section 24(2), which relates to the information to the Registrar about any changes of cessation of partner and change in the name and address of the partner, the LLP and every designated partner of the LLP shall be punishable with fine:
- a. The fine shall not be less than two thousand rupees, but which may extend to twenty-five thousand rupees.
- b The fine shall not be less than four thousand rupees, but which may extend to twenty- ftve thousand rupees.
- c The fine shall not be less than one thousand rupees, but which may extend to twenty-five thousand rupees.
- d The fine shall not be less than three thousand rupees, but which may extend to twenty-five thousand rupees.
7. A person shall not be capable of being appointed as a designated partner of a LLP, if he:
- a Suspends, or has at any time within the preceding f+ve years suspended payment to his creditor and has not at any time within the preceding five years made, a composition with them
- b Has been convicted by a Court for any offence involving moral turpitude and sentenced to toe imprisonment for not less than six months or has been convicted by a Court for an offence involving section 3O of the Act.
- c Has at any time within the preceding five years been adjudged insolvent.
- d All of the above.
Correct: D
8. What is the periodicity of preparing the Statement of Account and Solvency by the LLP:
- a Within a period of three months from the end of each financial year.
- b Within a period of nine months from the end of each financial year.
- c Within a period of twelve from the end of each financial year.
- d Within a period of six months from the end of each financial year.
Correct: D
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