Question

Define sleeping and active partners.

Answer 1

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.

Answer 2

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a partner in a company who does not take an active part in its management, especially one who provides some of the money.