A ______________ Is One Who Allows the Use of His/her Name by a Firm, but Does Not Contribute to Its Capital

(a) Sleeping partner

(b) Secret partner

(c) Active partner

(d) Nominal partner

Answer:

  1. Nominal partner

A nominal partner is one who does not have interest in the trade or its profits. But allows the use of his or her name in the firm.

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Customers are those individuals who purchase a product or service for their own use or to be used by someone else.

E.g. Sunny purchases rice to be consumed by all the family members including himself.

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Stay connected with BYJU’S for more such questions and answers on various commerce topics.

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