Business Studies · Partnership
A restaurant is owned by a partnership whose partners are Ted, Lauren, and Richard. Lauren and Richard are actively involved in the business and run the restaurant on a daily basis. Ted initially contributed money to form the partnership and shares in the profits of the business, but does not participate in the daily operations of the restaurant. Ted can be best described as which type of partner?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Nominal partner
- 2Sleeping partner✓
- 3Fixed share partner
- 4General partner
Correct answer
Sleeping partner
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