Loading...
UPSC 2010: Which one of the following is not a feature of Limited Liability Partnership firm ?
(a)Partners should be less than 20
(b)Partnership and management need not be separate
(c)Internal governance may be decided by mutual agreement among partners
(d)It is corporate body with perpetual succession
Attempt This Question
Not attemptedCorrect Answer: (a) Partners should be less than 20
The LLP Act, 2008 treats an LLP as a body corporate with perpetual succession, allows partners to frame internal governance by mutual agreement, and does not require separation of ownership and management. Crucially, it prescribes no upper limit on the number of partners (unlike an ordinary partnership, which is capped at 20/50). Hence the statement that ‘partners should be less than 20’ is NOT a feature. ([complianceindia.co.in](https://complianceindia.co.in/limited-liability-partnership-llp-want-know/?utm_source=openai))
Related UPSC Questions
More from Infrastructure & Industry
2009easy
In which one of the following States has India's largest private sector sea port been commissioned recently?
2009easy
Consider the following pairs : 1. Ashok Leyland : Hinduja Group 2. Hindalco Industries : A.V. Birla Group 3. Suzlon Energy : Punj Lloyd
2011easy
In the context of global oil prices, "Brent crude oil" is frequently referred to in the news. What does this term imply? 1. It is a major classificati
Related Indian Economy Topics
2010Monetary Policy & Money Supply
Which of the following terms indicates a mechanism used by commercial banks for providing credit to the government ?
2010International Trade & WTO
The SEZ Act, 2005 which came into effect in February 2006 has certain objectives. In this context, consider the following : 1. Development of infrastr
Frequently Asked Questions
What is the correct answer to this UPSC 2010 Indian Economy question?▼
The correct answer is option (a): Partners should be less than 20. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Infrastructure & Industry question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2010, GS Paper 1, as Question 136. It falls under Indian Economy > Infrastructure & Industry.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Infrastructure & Industry?▼
UPSC has asked 74 questions from Infrastructure & Industry (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.