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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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