Question

Types of partners includes _________.

• A. active Partner
• B. sleeping Partner
• C. nominal Partner
• D. all of the above

Answer 1

The correct option is D all of the above

Types of partner includes :-

1) Active partner - The partner who takes part into day to day activities of the firm.

2) sleeping partner - Sleeping or dormant partner is a partner who sleeps basically he does not actively participate in the decisions of the firm. He only contributes towards the share capital of the firm.

3) Nominal partner - A nominal partner is a partner who does not have any interest in the firm. He just lends his name to the firm without any capital contribution, and doesn't share the profits of the firm.