GCE Commerce 2024 Objective — Question 6
Question 6 of 50 from the General Certificate of Education (GCE) Commerce 2024 Objective paper, with the correct answer and a full explanation.
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A partner who loses his capital only, in case of bankruptcy, is a
- A. A. nominal partner
- B. B. a limited partnerCorrect
- C. C. a general partner
- D. D. an active partner
Explanation
A limited partner's liability is restricted to the amount of capital they contributed, so they only lose that capital in bankruptcy.
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