Multiple Choice Questions on An entity having the benefit of Limited Liability like in case of a company and the flexibility like........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

An entity having the benefit of Limited Liability like in case of a company and the flexibility like...........

Companies Act-Phase (I & II) Introduction to Company Act
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    An entity having the benefit of Limited Liability like in case of a company and the flexibility like in case of a partnership firm is known as:

    Private company

    Incorrect Answer

    Public Company

    Incorrect Answer

    Limited Liability Partnership Firm

    Correct Answer

    One Person Company

    Incorrect Answer

    None of the above

    Incorrect Answer
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    Explanation:

    An LLP is a hybrid form of organization having features of partnership firm and a company. It is a body corporate and legal entity separate from its partners, perpetual succession with limited liability of partners.

    By: Vikas Goyal
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