Maharashtra State BoardHSC Arts 12th Board Exam
Advertisement Remove all ads

Give the Word / Term Or Phrase Which Can Substitute the Following Statement. a Partner Who Contributes Only Capital for the Business but Does Not Take Any Active Part. - Book Keeping and Accountancy

One Word Answer

Give the word / term or phrase which can substitute the following statement.

A partner who contributes only capital for the business but does not take any active part.

Advertisement Remove all ads

Solution

Sleeping partner

Explanation: A partner who contributes only capital for the business and does not take any active part in the day to day functioning of the business is regarded as a sleeping partner.

Concept: The Indian Partnership Act 1932
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise | Q 7 | Page 13
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×