WAEC Accounting 2021 Objective — Question 39
Question 39 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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The partner who partakes in the management of the firm and assumes personal responsibility for the firm's debts is a
- A. general partnerCorrect
- B. sleeping partner
- C. quasi partner
- D. limited partner
Explanation
A general partner is the main partner — the individual held personally responsible for all the activities and debts of the partnership business.
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