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Business Studies

Features, Merits & Limitations of Partnership

Who Is the CE...

Question

Who Is the CEO in a Partnership?

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Solution

There are no CEOs in a partnership firm, all are referred to as partners. However, in case of partnership, if a person is managing all the works of the business and with consent of all partners is representing himself as the leader, then CEO can be used.

Also read:

MCQs on Partnership

Partnership Deed

What Is Partnership

Difference Between LLP and Partnership

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Q. Name of the following:
(a) A partnership in which the liability of one or more partners is limited.
(b) A partnership which is set up for an indefinite period of time.
(c) The document containing the terms and conditions of a partnership.
(d) The partner who contributes capital but does not take active part in the management.
(e) Person who lends his name and goodwill for the benefit of a partnership firm.

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