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Questions and Answers
Which type of partner has unlimited liability and is active in managing the firm?
Which type of partner has unlimited liability and is active in managing the firm?
- Silent partner
- General partner (correct)
- Limited partner
- Secret partner
Which type of partner takes an active part in the management of the business but is unknown to the public?
Which type of partner takes an active part in the management of the business but is unknown to the public?
- Silent partner
- General partner
- Limited partner
- Secret partner (correct)
Which type of partner does not contribute any capital to the business and has no right of participating in the management?
Which type of partner does not contribute any capital to the business and has no right of participating in the management?
- Limited partner
- Nominal partner (correct)
- Sleeping partner
- Silent partner
Which type of partner only shares from the profit or losses based on their contribution to business?
Which type of partner only shares from the profit or losses based on their contribution to business?
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Which type of partner is known by the public as an owner of the business but may not actively participate in the management?
Which type of partner is known by the public as an owner of the business but may not actively participate in the management?
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Which type of partner has invested in the business but does not have any management responsibility or liability for losses beyond investment?
Which type of partner has invested in the business but does not have any management responsibility or liability for losses beyond investment?
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