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Social StudiesSocial Studies
26 February, 11:30

The two categories of enterprises for which a limited liability partnership (LLP) is especially attractive are:

a. farmers and manufacturers.

b. professional services and family businesses.

c. professional services and unions.

d. manufacturers and computer hardware businesses

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Answers (1)
  1. 26 February, 13:52
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    The correct answer is B. Professional Services and Family Businesses.

    Explanation:

    Limited Liability Partnership (LLP) is a partnership that gives room to professionals to reap the tax benefits offered by the partnership as it reduces the personal liabilities of the partners to their wrongful acts. The partners are personally liable for business debts. There are no general partners. This means that the partners are protected against the company's debts and obligations. Examples of professionals under the Limited Liability Partnership are Accountants, Lawyers, etc.
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Home » Social Studies » The two categories of enterprises for which a limited liability partnership (LLP) is especially attractive are: a. farmers and manufacturers. b. professional services and family businesses. c. professional services and unions. d.
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