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    Question

    Which of the following ingredient is not found in an

    LLP?
    A Profit sharing Correct Answer Incorrect Answer
    B Mutual agency Correct Answer Incorrect Answer
    C Agreement between parties Correct Answer Incorrect Answer
    D both A and B Correct Answer Incorrect Answer
    E both B and C Correct Answer Incorrect Answer

    Solution

    Mutual agency means that each partner is responsible for the acts done by other partners related to business. Mutual agency do exist in a partnership firm but not in LLP.

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