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    Question

    Recently government allowed more foreign investment in

    LLP firms. What does LLP stands for?
    A Local Legal Partnership Correct Answer Incorrect Answer
    B Local Lending Partnership Correct Answer Incorrect Answer
    C Limited Liability Partnership Correct Answer Incorrect Answer
    D Legal Liability Partnership Correct Answer Incorrect Answer
    E Limited Legal Partnership Correct Answer Incorrect Answer

    Solution

    A limited liability partnership (LLP) is a partnership in which some or all partners have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence

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