A person who declares by word of mouth as partner of the firm is called:
A) active partner
B) estople partner
C) dormant partner
D) nominal partner
Correct Answer:
Verified
Q8: Loss on realization is:
A)debited to partners capital
Q9: When all partners are insolvent creditors will
Q10: The persons who have entered into a
Q11: The persons who have entered into a
Q12: If no provision is made in agreement
Q14: A person who receives a share of
Q15: The agreement among partners which set out
Q16: Every partner has a right to be
Q17: For the firm interest on drawing is:
A)expense
B)income
C)liability
D)none
Q18: A credit balance on a partner's current
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