GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a type of partner?
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Minor
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Nominal
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Sleeping or Dormant
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All of the above
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Explanation:
Detailed explanation-1: -There are three relatively common partnership types: general partnership (GP), limited partnership (LP) and limited liability partnership (LLP).
Detailed explanation-2: -General partnerships. Limited partnerships. Limited liability partnerships. Limited liability limited partnerships.
Detailed explanation-3: -Active/Managing Partner. This is one among the types of general partnership where a particular individual or entity takes up the managing role. Dormant/Sleeping Partner. Nominal Partner. Partners in profits only. Partner by Estoppel. Minor Partner.
There is 1 question to complete.