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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>

Accounting Cost Accounting Financial Accounting Bank Accounting managerial accounting
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Question ajoutée par Ibtisam Haider Syed , General Accountant , DAR AL AQAR REAL ESTATE LLC
Date de publication: 2014/11/20
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Saleem Khatri
par 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
par Wasif Ali , Stock & Credit Controller , Petrogas Company Ltd.

D

Ibtisam Haider Syed
par 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
par NAZAKAT ALI SHAHZAD ACCA UK MSC UK BSC UK MBA PAK , Financial Analyst , RAPCO For Contracting and Industrial Services Company

The company’s exposure to debts and liability is limited

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

A1 and2 only

 

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

can you explain your answer? 

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

A

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

 answer1

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