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Which of the following best describes the term 'silent partner'?

Practice Questions

Q1
Which of the following best describes the term 'silent partner'?
  1. A partner who actively manages the business
  2. A partner who invests but does not participate in management
  3. A partner who has no financial stake
  4. A partner who is only involved in legal matters

Questions & Step-by-Step Solutions

Which of the following best describes the term 'silent partner'?
  • Step 1: Understand what a partner in a business is. A partner is someone who shares in the ownership and profits of a business.
  • Step 2: Learn what 'silent' means. 'Silent' means not speaking or not being active.
  • Step 3: Combine the two ideas. A silent partner is someone who invests money in a business but does not get involved in making decisions or managing the business.
  • Step 4: Remember that silent partners still share in the profits but do not participate in daily operations.
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