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Which of the following terms refers to a partner who is not involved in day-to-d

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

Options:

  1. Active partner
  2. Silent partner
  3. General partner
  4. Equity partner

Correct Answer: Silent partner

Solution: 

A silent partner is one who does not participate in daily operations but is entitled to a share of the profits.

Which of the following terms refers to a partner who is not involved in day-to-d

Practice Questions

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

Which of the following terms refers to a partner who is not involved in day-to-day operations but shares in the profits?
  • Step 1: Understand the question. It asks about a type of partner in a business.
  • Step 2: Identify the key characteristics of the partner mentioned in the question.
  • Step 3: Recognize that the partner does not take part in daily operations.
  • Step 4: Note that this partner still receives a share of the profits.
  • Step 5: Recall the term that describes this type of partner, which is 'silent partner'.
No concepts available.
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