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Give the Word / Term Or Phrase Which Can Substitute the Following Statement. a Partner Who is Engaged in Day to Day Activities of the Business. - Book Keeping and Accountancy

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Question

Give the word / term or phrase which can substitute the following statement.
A partner who is engaged in day to day activities of the business.

One Word/Term Answer
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Solution

Active partner

Explanation: A partner who is engaged in day to day activities of the business is regarded as an active partner. He works on behalf of all other partners of the firm and is also paid a salary, if mentioned in the deed.

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Chapter 1: Introduction to Partnership - Exercise 2 [Page 13]

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Micheal Vaz Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise 2 | Q 4 | Page 13
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