ACCA F4 - Corp and Business Law (ENG)

176 11: Partnerships  Part D The formation and constitution of business organisations

Answers to Quick Quiz

1 B. A written agreement is not needed.

2 False. LLPs are only dissolved when they cease to trade.

3 C. New partners are only liable for partnership debts incurred after they join a firm.

4 False. It is the partners of an LLP that enjoy limited liability.

5 False. An LLP may be required to appoint auditors if it fulfils certain criteria.

Now try the questions below from the Practice Question Bank

Number

24, 25