CSEET · Fundamentals of Accounting · Partnership and LLP Accounts
Under the Limited Liability Partnership Act, 2008, which of the following must appear as the last words of the name of every limited liability partnership?
Every LLP must have the words 'Limited Liability Partnership' or the acronym 'LLP' as the last words of its name. This is required by Section 15(1) of the LLP Act, 2008. Terms like Private Limited, & Co. or Firm do not satisfy the rule.
- AThe words "Private Limited" or "Pvt. Ltd."
- BThe words "Limited Liability Partnership" or the acronym "LLP"Correct
- CThe words "and Company" or "& Co."
- DThe word "Partnership" or "Firm"
Explanation
Section 15(1) requires every LLP to have either the words limited liability partnership or the acronym LLP as the last words of its name. 'Private Limited' is for companies, and 'Partnership' or 'Firm' alone does not meet the requirement.
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