Accountancy, asked by yashpdhumal1907, 1 year ago

Who is called nominal partner? (Answer in one sentence)

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Answered by LilyWhite

A person who neither has ownership or activities involvement in any firm's affair but has strong a strong interest in the success of partnership firm.

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Answered by sawakkincsem

Answer:

Nominal partner is also known as limited partner. He is person who has an interest in the success of a partnership firm but, legally, is not partner because he or she neither owns a part of the firm nor actively participates in its affairs. Name of the nominal partner lends credibility and recognition to the firm and he is paid a fee for this service.

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