A LLP is a new form of legal business entity with unlimited liability.

1 Answer

Answer :

FALSE

Related questions

Description : A LLP is a new form of legal business entity with unlimited liability.

Last Answer : FALSE

Description : LLP is governed by a) Partnership Act , 1932 b) Companies Act , 1956 c) Limited Liability Partnership Act , 2008 d) Companies Act , 2013

Last Answer : c) Limited Liability Partnership Act , 2008

Description : . The maximum number of partners LLP can have is a) 7 partners b) 50 partners c) 2 partners d) No limit

Last Answer : d) No limit

Description : LLP should have minimum a) 7 partners b) 2 partners c) 50 partners d) 3 partners

Last Answer : b) 2 partners

Description : Insolvency of a partner of LLP automatically results in its dissolution.

Last Answer : Insolvency of a partner of LLP automatically results in its dissolution.

Description : Company incorporated outside India can become a partner in a LLP.

Last Answer : TRUE

Description : LLP must Maintain books of accounts on accrual basis.

Last Answer : FALSE

Description : LLP can raise money from the public.

Last Answer : FALSE

Description : Every partner is required to contribute towards the LLP in some manner as specified in LLP agreement.

Last Answer : TRUE

Description : Insolvency of a partner of LLP automatically results in its dissolution.

Last Answer : TRUE

Description : Company incorporated outside India can become a partner in a LLP.

Last Answer : TRUE

Description : LLP must Maintain books of accounts on accrual basis.

Last Answer : FALSE

Description : LLP can raise money from the public.

Last Answer : FALSE

Description : Every partner is required to contribute towards the LLP in some manner as specified in LLP agreement.

Last Answer : TRUE

Description : At least of the designated partners of every limited liability partnership shall be a resident in India. a) One b) Two c) Three d) Seven

Last Answer : c) Three

Description : Every partner of a limited liability partnership must have a minimum of Contribution of Rs. 1 Lakh.

Last Answer : FALSE

Description : Every Limited Liability Partnership must have at least two partners but there is no maximum limit on the numbers of partners.

Last Answer : TRUE

Description : The liability of each partner is limited to his agreed contribution in the Limited Liability Partnership.

Last Answer : TRUE

Description : Every partner of a limited liability partnership must have a minimum of Contribution of Rs. 1 Lakh

Last Answer : FALSE

Description : The liability of each partner is limited to his agreed contribution in the Limited Liability Partnership.

Last Answer : TRUE

Description : Liability for compensation under Workmen’s Compensation Act is treated a) Secured creditor b) Preferential creditor c) Over – riding preferential creditor d) Unsecured creditor

Last Answer : Over – riding preferential creditor

Description : A past member is not liable to make a contribution if liability was contracted after he ceased to be a member.

Last Answer : TRUE

Description : The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the ____________ rate.

Last Answer : Closing

Description : ___________ value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm‟s length transaction.

Last Answer : Fair,

Description : The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the __________ (a) Average Rate (b) Closing Rate (c) Non-monetary Rate (d) Monetary Rate

Last Answer : Closing

Description : Exchange rate is the rate at which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.

Last Answer : FALSE

Description : When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account

Last Answer : (A) Realisation Account

Description : In case of .............., one existing company takes over the business of another company and no new company is formed.(A) Amalgamation (B) Absorption (C) Reconstruction (D) None of the Above

Last Answer : (B) Absorption

Description : When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as .................. (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction

Last Answer : (A) Amalgamation

Description : When company purchases the business of another company ........ comes into existence. (A) Amalgamation (B) Absorption (C) External Reconstruction (D) Internal Reconstruction

Last Answer : (B) Absorption

Description : When one of the existing companies take over business of another company or companies, it is known as ........... (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction

Last Answer : (B) Revised Value

Description : Two or more companies combining to form a new company is called absorption.

Last Answer : False

Description : The shares received from the new company is recorded at________ (A) Face value (B) Market value (C) Average price (D) None of these

Last Answer : (B) Market value

Description : Shares received from the new company are recorded at - (A) Face value (B) Average price (C) Market value (D) None of the above

Last Answer : (C) Market value

Description : On amalgamation , payment to creditors do not form part Purchase of Consideration

Last Answer : TRUE

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Last Answer : peptic ulcer

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Last Answer : Cyclospoine + corticosteroid

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Last Answer : Plephotomy

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Last Answer : SC epinephrine

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Last Answer : Melanoma

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Last Answer : Vit C

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Last Answer : Bone scan (for osteoporosis)

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Last Answer : Pseudomembranous colitis

Description : patient came with MI 2 day after addmission develop. Sever abdominal pain and bloody diarrhea وفياشياتانيهنسيتهاDX Ischemic colitis

Last Answer : Ischemic colitis

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Last Answer : d. Duplex ultrasound of lower limb

Description : months old baby brought by his parents complaining of abd. distention bilious vomiting, constipation, the parents informed that the constipation has been an issue since his birth what is the single diagnostic investigation to do ??barium enema pain xray ??metery rectal examination

Last Answer : barium enema

Description : years old male diagnosis as case of gastric ulcer , culture -ve h.pylori pathology –ve of cancer ttt: proton pumb inhibitor antihistamine after 6-8 wk do endoscope after therapy referral to surgery

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Last Answer : measurement of exposed and not have the disease mius those exposed and have the disease