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      Question

      Which of the following statement is not true about

      liability in case of Partnership/ LLP?
      A Partnership firm has a limited liability Correct Answer Incorrect Answer
      B LLP has an unlimited liability Correct Answer Incorrect Answer
      C both A and B Correct Answer Incorrect Answer
      D Liability is limited to the contributions in case of an LLP. Correct Answer Incorrect Answer
      E All of the above are not true. Correct Answer Incorrect Answer

      Solution

      In a partnership firm the liability of partners is unlimited and in case of an LLP, the liability is limited to the contributions of the partners in the LLP.

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