Who signs the Statement of Account and Solvency under section 34(2) of the Limited Liability Partnership Act, 2008?
Question and options
Who signs the Statement of Account and Solvency under section 34(2) of the Limited Liability Partnership Act, 2008?
The designated partners
Any one of the partners
A majority of the partners
The auditor of the LLP
Answer and explanation
Correct answer: A - The designated partners
Section 34(2) of the Limited Liability Partnership Act, 2008 requires the designated partners to prepare the Statement of Account and Solvency within six months of the end of each financial year and requires it to be signed by the designated partners. The auditor's role under section 34(4) is to audit the accounts, not to sign this statement on the LLP's behalf.
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