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Questions and Answers
Which type of partner is not actively involved in the day-to-day operations of the partnership?
Which type of partner is not actively involved in the day-to-day operations of the partnership?
- Active partner
- General partner
- Silent partner (correct)
- Dormant partner
What is one of the advantages of a partnership?
What is one of the advantages of a partnership?
- Lack of mutual trust
- Efficient administration (correct)
- Uncertain duration
- Limited liability
What is one of the disadvantages of a partnership?
What is one of the disadvantages of a partnership?
- Group decision making
- Ease of formation
- Minimal governmental control
- Delays in decision making (correct)
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