Which of the following persons is likely to be a partner in a partnership?
Answer and explanation
Correct answer: A. Someone carrying on business in common for profit
- Step 1: Partnership is the relationship between persons carrying on business in common with a view to profit. Answer: Someone carrying on business in common for profit. Why not the others: A person who lends money at a fixed rate of interest only: A fixed-rate lender is not a partner. An employee who is paid a monthly salary only: Employees are not partners. A person who only sells goods to the firm: A supplier is not a partner.
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