Question

Which of the following statements about a Limited Liability Partnership is correct?

A An LLP is a body corporate that is a separate legal entity from its partners
B An LLP does not have perpetual succession
C A change in the partners of an LLP affects its rights, liabilities, and existence
D An LLP is not considered a legal entity separate from its partners
E An LLP is formed under the Companies Act, not the LLP Act
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