Question

Name and define the form of business organization in which the liability of its members is limited. State one more feature of this form of business organization. [CBSE Delhi 2015]

Answer 1

Answer:

Ok.. a limited liability company (LLC) is a form of private limited company in which liability is limited.

Features of this form:-

a) separate legal existence

b) flexibility in transaction

c) simplicity in operation

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Answer 2

Answer:

A limlited liability company(LLC) is a form of private limited company in which liability is limited.

Features in this form-

¡) Separate legal existence.

¡¡)Flexibility in transaction.

¡¡¡)Simplicity in operation.

HOPE IT HELPS..