Question

Name different types of Partners on the basis of capital , Control and share of profit.​

Answer 1

ANSWER:

on the basis of capital control:

(a) Active partner

(b) sleeping partner

on the basis of profit sharing:

(a) Nominal partners

(b)partners in profit

on the basis of behaviour:

(a) partners by estoppel

(b) partners by holding out

on the basis of liability

(a) general partners

(b) limited partners

Explanation:

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Answer 2

Partnership:

• When two or more people work together and share the profits from the business or profession.

• One must not always assume that all partners participate in the work or profits or even liabilities of the firm equally.

Partners can be divided on the basis of:

(1) Capital

• Active partner

• Sleeping partner

(2) Profit sharing  

• Nominal partners

• By Profit

(3) Behaviour

• By estoppel

• By holding out

(4) Liability  

• General partners  

• Limited partners