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WAEC Commerce 2024 Question 6

Question 6

Business Units

A partner who loses his capital only, in case of bankruptcy is

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

Answer: B (a limited partner.)

Explanation

A limited partner's liability is limited to the capital he put in.