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Introduction to Retirement

Give the word...

Question

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

A partner who is engaged in day to day activities of the business.

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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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