Limited liability partnership possesses not more than 2 of the following character.
1. Limited liability
2. Raise funds from public
3. No separation of management from owners
4. No Restriction on number of partners.
1 and 2
2 and 4
1 and 3
1 and 4

Question

Limited liability partnership possesses not more than 2 of the following character.
1. Limited liability
2. Raise funds from public
3. No separation of management from owners
4. No Restriction on number of partners.
1 and 2
2 and 4
1 and 3
1 and 4

Toppr Admin · Accepted Answer

Limited liability company is a partnership in which some or all partners have limited liability- There is no restriction on number of partners to enter in this firm- Hence- it possess 2 characteristics-Limited liability-Raise funds from public-

Limited liability partnership possesses not more than 2 of the following character.1. Limited liability2. Raise funds from public3. No separation of management from owners4. No Restriction on number of partners.1 and 22 and 41 and 31 and 4

Limited liability company is a partnership in which some or all partners have limited liability. There is no restriction on number of partners to enter in this firm. Hence, it possess 2 characteristics:Limited liability.Raise funds from public.

Limited liability partnership possesses not more than 2 of the following character.
1. Limited liability
2. Raise funds from public
3. No separation of management from owners
4. No Restriction on number of partners.
1 and 2
2 and 4
1 and 3
1 and 4

Limited liability company is a partnership in which some or all partners have limited liability. There is no restriction on number of partners to enter in this firm. Hence, it possess 2 characteristics:
Limited liability.
Raise funds from public.