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A person who contributes money to a partnership business and is also involved in its...

Commerce
WAEC 2014

A person who contributes money to a partnership business and is also involved in its general supervision is called

  • A. An active partner
  • B. a limited partner
  • C. A dormant partner
  • D. a nominal partner
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Correct Answer: Option A
Explanation

An active partner is an invested person who is involved in the daily operations of the partnership. An active partner helps run the business to enhance his or her returns and is therefore considered a material participant.

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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
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now