passwella.
Menu

WAEC Commerce 2019 Question 4

Question 4

Business Units

A partner whose only contribution to partnership is his name and goodwill is

  1. A.an active partner.
  2. B.a limited partner.
  3. C.a nominal partner.
  4. D.a sleeping partner.
Show the answer and explanation

Answer: C (a nominal partner.)

Explanation

A nominal partner only lends his name and reputation; a sleeping partner contributes capital but takes no part in management.