Active partners take active part in day to day management of partnership firm.
Justify the following statement :
Active partners take active part in day to day management of partnership firm.
5 views
1 Answers
1. Active partner is also called a working partner. He brings in capital and also takes active part in the business of the firm.
2. He has unlimited liability and shares the profits and losses of the firm. He is also called a managing partner.
3. Thus, active partners take active part in day to day management of partnership firm.
5 views
Answered