Define a sleeping partner.
A partner who contributes capital but does not participate in the management of the business is called a sleeping partner.
Describe the following :
(a) Sleeping partner
(b) Secret partner
(c) Nominal partner
(d) Active partner
Is a sleeping partner liable for the acts of other partner?
A partner whose association with the firm is unknown to the general public is called
(a) Active partner
(b) Sleeping partner
(d) Secret partner