At AgroCorp, each owner has unlimited liability for the debts of the business. It has several business units that focus on many product categories at once which allowed the company to become a leader in category management in the agricultural market. AgroCorp is an example of a

Question

Emmett

Business

18 December, 07:39

At AgroCorp, each owner has unlimited liability for the debts of the business. It has several business units that focus on many product categories at once which allowed the company to become a leader in category management in the agricultural market. AgroCorp is an example of a

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Santiago · Answer 1

general partnership

Explanation:

General partnership -

It refers to the condition, where the business is run by two or more individuals, who merges their shares, in order to run the business, it is referred to as a general partnership.

All the partner have equal rights on the profit, loss, and all the financial decisions and income tax.

There are unlimited liability, and any of the partner can be sued for any type of business debts.

Hence, from the given scenario of the question,

The correct term is general partnership.