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Recap of Accounting Process

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Question

Write a word or a phrase or a term which can substitute each one of the following.

A partner in partnership firm who takes active participation in day to day work.

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Solution

A partner in partnership firm who takes active participation in day to day work- Active Partner.
Explanation:
Active partners are the one who contribute capital and take part in the management of the business. They share profits and losses and have unlimited liability.

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