Business Studies · Limited Liability Partnership Membership
Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: A Limited Liability Partnership (LLP) structure provides scalability in terms of partner membership. Reason R: An LLP imposes no legal statutory maximum limit on the number of partners, whereas a traditional general partnership often faces a statutory cap. In the light of the above statements, choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both A and R are correct but R is NOT the correct explanation of A.
- 2Both A and R are correct and R is the correct explanation of A.✓
- 3A is correct but R is not correct.
- 4A is not correct but R is correct.
Correct answer
Both A and R are correct and R is the correct explanation of A.
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