Nick is investing $25,000 in a partnership with his sister and brother. Nick does not want to be an active part of the partnership and can only afford to risk the $25,000 he is investing
His brother and sister agree to let him share a proportionate amount of the profits. Nick is a(n) ________ in this partnership.A) limited partner
B) junior partner
C) general partner
D) sole partner
E) unlimited partner
A
Explanation: A) A limited partner invests in a partnership, but has limited liability and does not take an active role in managing the business.
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