Question

________ one who contributes ,capital participates in the manegement of the firm shares its profits and loses and liable to an unlimited extent to the credit or of the firm.

Answer 1

Answer:

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Active partner: An active partner is one who contributes capital, participates in the management of the firm, shares its profits and losses, and is liable to an unlimited extent to the creditors of the firm. These partners take actual part in carrying out business of the firm on behalf of other partners.

Explanation:

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Answer 2

Answer:

Active partner: An active partner is one who contributes capital, participates in the management of the firm, shares its profits and losses, and is liable to an unlimited extent to the creditors of the firm. These partners take actual part in carrying out business of the firm on behalf of other partners.

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