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Question
Select the most appropriate alternative from those given below and rewrite the statement.
A partner who provides only capital to the firm is called as__________________.
Options
active
nominal
sleeping
minor
MCQ
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Solution
A partner who provides only capital to the firm is called as sleeping partner.
Explanation: A partner who just provides capital to the firm and does not take active part in day-to-day functioning of the business is a sleeping partner. But he is liable to the third parties for the dues of the firm.
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