Commerce Exam > Commerce Questions > Direction: Read the following text and answe...
Start Learning for Free
Direction: Read the following text and answer the questions on the basis of the same:
Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.
Q. What type of a partner Himanshu is?
- a)Active
- b)Dormant
- c)Nominal
- d)Secret
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Direction: Read the following text and answer the questions on the ba...
Himanshu is dormant partner. A sleeping partner is also known as a “dormant partner”. This partner does not participate in the day-to-day functioning activities of the partnership firm. A person who has sufficient money or interest in the firm, but cannot devote his time to the business, can act as a sleeping partner in the firm.
View all questions of this test
Most Upvoted Answer
Direction: Read the following text and answer the questions on the ba...
Answer:
Introduction:
Himanshu is one of the partners in a construction project along with Madhu and Mayank. The project involves constructing three government school buildings in a village near Agra within a time period of 6 months. The partners have a written agreement that outlines their roles and responsibilities in the project.
Himanshu's Role:
According to the agreement, Himanshu is a partner who will contribute capital to the project but will not be actively involved in management. This means that although he will provide financial resources, he will not make any decisions or participate in the day-to-day operations of the project.
Different Types of Partners:
There are several types of partners in a partnership firm, including active, dormant, nominal, and secret partners. Each type of partner has different roles and responsibilities within the firm.
1. Active Partner: An active partner actively participates in the management and operations of the partnership. They contribute capital, share profits, and have the authority to make decisions on behalf of the firm.
2. Dormant Partner: A dormant partner is one who contributes capital to the partnership but does not take an active part in the management of the firm. They are silent partners and have limited involvement in the day-to-day operations.
3. Nominal Partner: A nominal partner is someone who lends their name to the partnership but does not contribute capital or actively participate in the management of the firm. They are not liable for the debts and obligations of the partnership.
4. Secret Partner: A secret partner is one whose association with the partnership is not publicly disclosed. They may contribute capital and actively participate in the management of the firm, but their identity is kept confidential.
Himanshu's Classification:
Based on the information provided, Himanshu can be classified as a dormant partner. Although he contributes capital to the project, he is not actively involved in the management or decision-making process. He plays a passive role in the partnership, similar to a silent partner.
Conclusion:
In summary, Himanshu is a dormant partner in the construction project. While he provides capital, he does not participate in the management or decision-making process. The roles and responsibilities of the partners are clearly defined in the written agreement, ensuring clarity and accountability in the project.
Introduction:
Himanshu is one of the partners in a construction project along with Madhu and Mayank. The project involves constructing three government school buildings in a village near Agra within a time period of 6 months. The partners have a written agreement that outlines their roles and responsibilities in the project.
Himanshu's Role:
According to the agreement, Himanshu is a partner who will contribute capital to the project but will not be actively involved in management. This means that although he will provide financial resources, he will not make any decisions or participate in the day-to-day operations of the project.
Different Types of Partners:
There are several types of partners in a partnership firm, including active, dormant, nominal, and secret partners. Each type of partner has different roles and responsibilities within the firm.
1. Active Partner: An active partner actively participates in the management and operations of the partnership. They contribute capital, share profits, and have the authority to make decisions on behalf of the firm.
2. Dormant Partner: A dormant partner is one who contributes capital to the partnership but does not take an active part in the management of the firm. They are silent partners and have limited involvement in the day-to-day operations.
3. Nominal Partner: A nominal partner is someone who lends their name to the partnership but does not contribute capital or actively participate in the management of the firm. They are not liable for the debts and obligations of the partnership.
4. Secret Partner: A secret partner is one whose association with the partnership is not publicly disclosed. They may contribute capital and actively participate in the management of the firm, but their identity is kept confidential.
Himanshu's Classification:
Based on the information provided, Himanshu can be classified as a dormant partner. Although he contributes capital to the project, he is not actively involved in the management or decision-making process. He plays a passive role in the partnership, similar to a silent partner.
Conclusion:
In summary, Himanshu is a dormant partner in the construction project. While he provides capital, he does not participate in the management or decision-making process. The roles and responsibilities of the partners are clearly defined in the written agreement, ensuring clarity and accountability in the project.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer?
Question Description
Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer?.
Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. What type of a partner Himanshu is?a)Activeb)Dormantc)Nominald)SecretCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup