Spicetech is a medium sized firm. The firm sells spices to different parts of the world. Sita is a partner that adds money but yet does not take part in the daily management. She is a part of another company and handling the management there. What kind of partner is she?

Nominal partner

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Sleeping partner

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Active partner

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Secret partner

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Solution

The correct option is B
Sleeping partner

A sleeping partner is one who adds money but yet does not take part in the daily management.

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Similar questions

A partner whose association with the firm is unknown to the general public is called

(a) Active partner

(b) Sleeping partner

(d) Secret partner

A partner who contributes capital but does not take part in the business management of a firm.

Describe the following :

(a) Sleeping partner

(b) Secret partner

(d) Active partner

Q. 'A', 'B', 'C', 'D' and 'V are partners in partnership firm. The firm has different types of partners. Mr. A has contributed capital and participates in the management of firm. He shares profits and losses and is liable to an unlimited extent to the creditors of the firm.
Mr. B has contributed capital and shares its profits and losses. He also has unlimited liability but he does not take part in day to day activities of business. Association of Mr. C is not known to the general public but in all other respects he is like an active partner. Mr. D has allowed the firm to use his name as he enjoys good reputation among clients but he does not either contribute capital or take part in the management.
Master 'E', 15 years of age is entitled to the benefits of partnership with mutual consent of all their members. He is not eligible to take part in management of firm and shares only profits and not losses of the firm.
(i) How many partners do the firm has?
(ii) Who is the active partner and what is the nature of his liability in the firm?
(iii) Who is the sleeping partner in the firm and what is the nature of his liability?
(iv) What kind of partner is Mr.0 and what kind of liability does he have in the firm?
(v) How does the partnership relationship of Mr. C differs from Mr. D ? How do they differ in their liability?
(vi) Is Mast. E a legal partner? Can be held liable for the liability of the firm?

Mr. Gupta is a partner to a firm. He has been adding capital, taking part in decisions, receives maximum shares. What kind of partner is he in the company?

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Spicetech is a medium sized firm. The firm sells spices to different parts of the world. Sita is a partner that adds money but yet does not take part in the daily management. She is a part of another company and handling the management there. What kind of partner is she?

The correct option is B Sleeping partner A sleeping partner is one who adds money but yet does not take part in the daily management.

The correct option is B
Sleeping partner

A sleeping partner is one who adds money but yet does not take part in the daily management.