A) take active part in the conduct of the business but provide no capital. However, salary is paid to them.
B) do not take any part in the conduct of the business but provide capital and share profits and losses in the agreed ratio.
C) take active part in the conduct of the business but provide no capital. However, share profits and losses in the agreed ratio.
D) do not take any part in the conduct of the business and contribute no capital. However, share profits and losses in the agreed ratio.
Correct Answer: B
Solution :
[b] do not take any part in the conduct of the business but provide capital and share profits and losses in the agreed ratio.
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