Define sleeping and active partners......
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Sleeping Partners : Some partners provide only the finance, but do not take part in the running of the business. Such partners are called sleeping partners.
Active Partners : Active partner is that who not only invests capital but looks after the activities of the business. Active partner always receives profits and a fixed salary for managing the business.
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A sleeping partner is a person who provides some of the capital for a business but who does not take an active part in managing the business. [British, business]regional note: in AM, use silent partner.
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