Question

Select the most appropriate alternative from those given below and rewrite the statement.

A partner below 18 years of age is called as __________________ partner.
a) active
b) sleeping
c) nominal
d) minor

Answer 1

A partner below 18 years of age is called as minor partner.
Explanation: A minor partner is one who is below the age of 18 years. A minor can be admitted to partnership only with the consent of all the partners. Moreover, such partners are only entitled to profits and are not liable to bear the share in losses of the firm.