Sanchit, Hemant and Akshay have mutually decided to establish a new small scale handicraft factory in a remote rural area in Jharkhand. As it will not only help to meet the growing demand for their products but also generate different kinds of employment opportunities in the village and foster its economic development. They have decided to promote their business in the form of partnership. Sanchit’s association with the firm will be hidden from the general public. Akshay will not take part in the day to day activities of the business due to health issues. However, Hemant will take actual part in carrying out business of the firm on behalf of other partners. (i) Identify and state any three types of partners highlighted in the above case. (ii) Write any two values which are being fulfilled by the firm.
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