New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    As per the provisions of the LLP Act how can a firm

    convert into a limited liability partnership?
    A In accordance with the provisions of Chapter X and the Second Schedule of the LLP Act Correct Answer Incorrect Answer
    B In accordance with the provisions of Chapter X and the Third Schedule of the LLP Act Correct Answer Incorrect Answer
    C In accordance with the provisions of Chapter IX and the Second Schedule of the LLP Act Correct Answer Incorrect Answer
    D In accordance with the provisions of Chapter XII and the Fifth Schedule of the LLP Act Correct Answer Incorrect Answer
    E In accordance with the provisions of Chapter X of the LLP Act of the LLP Act Correct Answer Incorrect Answer

    Solution

    Section 55.   Conversion from firm into limited liability partnership: A firm may convert into a limited liability partnership in accordance with the provisions of this Chapter and the Second Schedule.

    Practice Next