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Limited Liability Company

<p>Which of the following statements are TRUE of limited liability companies?</p> <p>(1) The company’s exposure to debts and liability is limited</p> <p>(2) Financial statements must be produced</p> <p>(3) A company continues to exist regardless of the identity of its owners</p> <p>A1 and2 only</p> <p>B1 and3 only</p> <p>C2 and3 only</p> <p>D1,2 and3</p>

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Question added by Ibtisam Haider Syed , General Accountant , DAR AL AQAR REAL ESTATE LLC
Date Posted: 2014/11/20
Saleem Khatri
by Saleem Khatri , Head of Finance , Berger Paints International

Answer is (b)1&3, but for some countries there is a condition if you want to register a LLC then the audited financial statements must be submitted to the registrar of companies every year to upkeep the registration, in this case, for such countries the answer should be (d)1,2 &3.

Wasif Ali
by Wasif Ali , Stock & Credit Controller , Petrogas Company Ltd.

D

Deleted user
by Deleted user

C2 and3 only

Ibtisam Haider Syed
by Ibtisam Haider Syed , General Accountant , DAR AL AQAR REAL ESTATE LLC

The correct answer is C:2 and3 only

 

NAZAKAT ALI SHAHZAD ACCA UK MSC UK BSC UK MBA PAK
by NAZAKAT ALI SHAHZAD ACCA UK MSC UK BSC UK MBA PAK , FINANCE MANAGER , RAPCO FOR CONTRACTING AND INDUSTRAIL SERVICES COMPANY

The company’s exposure to debts and liability is limited

Altaf Bhoon ACA
by Altaf Bhoon ACA , Assistant Finance Manager , Atlantic Maritime Group FZE

A1 and2 only

 

Dominic Tagle CPA
by Dominic Tagle CPA , Senior Accountant , NSV AUTOMOTIVE GROUP

can you explain your answer? 

Majeed Thuppath Mohammed Koya
by Majeed Thuppath Mohammed Koya , Manager - Commercial and Accounts Receivable , Autorent-Easy Drive Car Rental Company

A

SHINU SAM JOY
by SHINU SAM JOY , Accountant , Neat and Net LLC

A

Hamza Brioua
by Hamza Brioua , Senior Consultant , OCP Solution-OCP Group

 answer1

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