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
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.
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
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