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Partners whose liabilities are restricted to their financial contribution to the partnership in the event...

Accounts - Principles of Accounts
WAEC 2012

Partners whose liabilities are restricted to their financial contribution to the partnership in the event of winding up are

  • A. ordinary partners
  • B. limited partners
  • C. dormant partners
  • D. sleeping partners
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Correct Answer: Option B
Explanation

Limited partner is a partner in a company or venture whose liability towards its debts is legally limited to the extent of their investment.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent