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Question
Write a word or a phrase or a term which can substitute the following.
A partner who gives his name to a partnership firm.
Solution
A partner who gave his name to partnership firm- nominal partner.
Explanation:
A nominal partner is the one who only lends his name to the business. He neither contributes capital nor shares the profits or losses of the business
RELATED QUESTIONS
A Joint Stock Company can raise huge capital.
Distinguish between Partnership Firm Joint Stock Company
Long answer type question.
Define Joint Stock Company and explain its features.
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Group 'A'
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Group 'B'
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a. Public Company
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1. Father of Scientific Management
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b. Henry Fayol
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2. Corrective action taking.
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c. Controlling
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3. Commercial bank
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d. Reserve Bank Of India. (R.B.I.)
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4. Withdrawal after fixed period of time.
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e. Fixed deposit account
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5. Maximum 50 members.
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6. Central Bank
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7. Unlimited members
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8. Father of modern management
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9. Taking action against employees
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10. Withdrawal before the fixed period of time.
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Features of Joint Stock Company?
Define Partnership Firm and explain its features
Distinguish between the following.
Joint Hindu Family firm and Partnership
Write short answer of the following.
Define partnership and state its important features.
Feature of Partnership Firm?
State Whether the Following Statement Are True Or False (Give Reason).
A partnership agreement cen be verbal or written.
State Whether the Following Statement Are True Or False (Give Reason)
The liability of partners is limited.
Why is partnership considered by some to be a relatively unpopular form of business ownership?
Explain the merits of partnership.
Explain the limitations of partnership.
The Partnership Act limits the maximum number of partners in a non-banking partnership firm to ______.
