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Which of the following terms refers to a partner who is not involved in day-to-day operations but shares in the profits?

Practice Questions

1 question
Q1
Which of the following terms refers to a partner who is not involved in day-to-day operations but shares in the profits?
  1. Active partner
  2. Silent partner
  3. General partner
  4. Equity partner

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following terms refers to a partner who is not involved in day-to-day operations but shares in the profits?
Solution: A silent partner is one who does not participate in daily operations but is entitled to a share of the profits.
Steps: 0

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