Which one of the following is not valid as per the Limited Liability Partnership Act, 2008?
1
LLP shall maintain its books of accounts on double entry system and on cash or accrual basis.
2
LLP shall prepare a Statement of Account and Solvency for each financial year.
3
Every LLP shall file an annual return with the Registrar of Companies.
4
LLP is a not separate legal entity independent of its partners.