Question

Explain the role of llp in business decision making with suitable examples

Answer 1

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Answer 2

The role of llp in business decision making:

• Limited Liability Partnership is a full form of LLP in which partnership and company both have benefits.
• As per its name, partners have a limited burden on themselves whenever the business is going through a loss period. In any business decision-making situation, the consent of all partners are required.
• For conduct, the day-to-day functioning of the company, the partners of LLP have to provide consent and every partner of LLP has the authority to conduct business.

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