In a limited liability partnership under the Limited Liability Partnerships Act 2000 which of the following statements best describes the LPP Pilih Salah Satu Jawaban A there must be at least one general partner B LLPs are formed by agreement between the partners C all partners have limited liability D the LLP is only available for professionals such as accountants and solicitors and is not suitable for business

B

A Limited Liability Partnership (LLP) under the Limited Liability Partnerships Act 2000 is a partnership in which some or all partners have limited liabilities. It therefore exhibits elements of both the corporation and partnership forms of business. Here are the explanations for each option:A: This statement is incorrect. In an LLP, all partners have limited liability, and there is no requirement for a general partner with unlimited liability.B: This statement is correct. An LLP is formed by agreement between the partners who agree to share profits and losses, and it is governed by the LLP agreement and the provisions of the LLP Act.C: This statement is partially correct. In an LLP, all partners have limited liability, which means they are not personally responsible for the debts of the partnership.D: This statement is incorrect. While it's true that LLPs are commonly used by professionals such as accountants and solicitors, they are not exclusively available to these professions and can be suitable for any type of business.