Question

Is an Active partner always entitled to salary or some kind of remuneration from firm as he actively participate in all the activities of the firm is​

Answer 1

Answer:

Types of Partners

A partnership is when two or more people work together and share the profits from the business or profession. However, one must not always assume that all partners participate in the work or profits or even liabilities of the firm equally. In fact, there are various types of partners based on the extent of their liability, or their participation in the firm – like an active partner or dormant partner etc. Let us take a look.