A __________ is one who is known as a partner by the general public but who does not play an active role in the operation of the business.
A) Nominal Partner
B) Dormant Partner
C) Silent Partner
D) Limited Partner

Question

Quizplus · Accepted Answer

A silent partner is one who is known as a partner by the general public but who does not play an active role in the operation of the business. A nominal partner is not a legal term and does not have a defined role in a partnership. A dormant partner is one who is not actively involved in the business but still has a financial interest in it. A limited partner is one who has limited liability and is not involved in the day-to-day operations of the business.

A __________ Is One Who Is Known as a Partner