Telegram Channel
CA FOUNDATION ANTIM TEST SERIES
TEST-3: COMPANIES ACT, 2013 AND LLP ACT, 2008
Time: 1 hr Date: 25.11.2023 Maximum Marks: 30
General Instructions:
1. All Questions are compulsory.
2. After completing the Test make the PDF of the Answer Sheet and save the file
name with “YourName_Law _03”.
3. Upload your PDF file to the respective portal till 11.59 pm.
Q1. "A LLP (Limited Liability Partnership) is a type of partnership in which participants'
liability is fixed to the amount of money they invest whereas a LLC (Limited Liability
Private/Public Company) is a tightly held business entity that incorporates the qualities
of a corporation and a partnership". (5 marks)
In line of above statement clearly elaborate the difference between LLP and LLC.
Q2. The Articles of Association of Aarna Limited empowers its managing agents to
borrow loans on behalf of the company. Ms. Anika, the director of the company,
borrowed ` 18 Lakhs in name of the company from Quick Finance Limited, a non-
banking finance company. Later on, Aarna Limited refused to repay the money
borrowed on the pretext that no resolution authorizing such loan have been actually
passed by the company and therefore the company is not liable to pay such loan.
Decide whether the contention of Aarna Limited is correct in accordance with the
provisions of the Companies Act, 2013? (4 Marks)
Q3. What do you mean by "Companies with charitable purpose" (section 8) under the
Companies Act, 2013? Mention the conditions of the issue and revocation of the
licence of such company by the government. (6 Marks)
CA Foundation December 2023 Mock Test Series at https://commerceaim.vercel.app
CA FOUNDATION ANTIM TEST SERIES
TEST-3: COMPANIES ACT, 2013 AND LLP ACT, 2008
Time: 1 hr Date: 25.11.2023 Maximum Marks: 30
General Instructions:
1. All Questions are compulsory.
2. After completing the Test make the PDF of the Answer Sheet and save the file
name with “YourName_Law _03”.
3. Upload your PDF file to the respective portal till 11.59 pm.
Q1. "A LLP (Limited Liability Partnership) is a type of partnership in which participants'
liability is fixed to the amount of money they invest whereas a LLC (Limited Liability
Private/Public Company) is a tightly held business entity that incorporates the qualities
of a corporation and a partnership". (5 marks)
In line of above statement clearly elaborate the difference between LLP and LLC.
Q2. The Articles of Association of Aarna Limited empowers its managing agents to
borrow loans on behalf of the company. Ms. Anika, the director of the company,
borrowed ` 18 Lakhs in name of the company from Quick Finance Limited, a non-
banking finance company. Later on, Aarna Limited refused to repay the money
borrowed on the pretext that no resolution authorizing such loan have been actually
passed by the company and therefore the company is not liable to pay such loan.
Decide whether the contention of Aarna Limited is correct in accordance with the
provisions of the Companies Act, 2013? (4 Marks)
Q3. What do you mean by "Companies with charitable purpose" (section 8) under the
Companies Act, 2013? Mention the conditions of the issue and revocation of the
licence of such company by the government. (6 Marks)
CA Foundation December 2023 Mock Test Series at https://commerceaim.vercel.app
