In the form of partnership, all the partners share management responsibilities. 1. Sole proprietorship 2. General partnership 3. Limited partnership 4. Limited liability partnership 5. Corporation

2. 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 .

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