A partner who has no right to participate in control of the business and who has limited liability is called a:
A)limited partner.
B)nominal partner.
C)secret partner.
D)general partner.

Question

Quizplus · Accepted Answer

A limited partner has no right to participate in the control of the business, and their liability is limited to the amount of their investment in the partnership. Nominal partners and secret partners typically refer to partners who are not publicly known or who have a nominal or token involvement in the partnership. A general partner, on the other hand, has an active role in the management of the business and is fully liable for all partnership debts and obligations.

A Partner Who Has No Right to Participate in Control