In absence of LLP agreement the mutual rights of partners and the relation to LLP will be determined as per schedule _of LLP Act 2008

Related MCQs

• If there is conversion of private limited company into LLP all the of the company must become partners in the LLP and no one else
• AB are two partners in a firm, as per the terms of agreement partners drawing will carry interest @ 10%. If A has drawn funds from business as per the details given below. Find the interest for the year ended 31.12.2012 01.04.2012 ` 20,000 01.06.2012 ` 10,000 01.09.2012 ` 20,000
• From the following details what will be the partners‘ commission? Net profit before charging partners‘ commission `65,000. Partners‘ commission @ 11% after charging such commission
• From the following details what will be the partners‘ commission? Net profit before charging partners‘ commission `65,000. Partners‘ commission 11% before charging such commission
• When there is a change in the current partners’ association that results in ending the existing agreement and initiate a formation of a new agreement is known as Sol:
• The maximum number of Partners which can be allowed as partners in a firm are…
• rights/ Duties of partners are governed by_______________
• Which of the following statements is/are true? (i) An error in casting the subsidiary books is an error of commission (ii) An error in wrong casting of the sales day book will not affect the personal accounts of debtors (iii) Mistake in transferring the balance of an account to the Trial Balance will not affect the agreement of the Trial Balance (iv) The mistake of treating a liability as an income or vice versa will not affect the agreement of a Trial Balance
• As per Partnership Act, which of these rights are available to a partner ——
• Accounts of LLP are to be audited by _____________