A cooperative is a business owned by two or more persons who have unlimited liability for its debt and obligations.

Question

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A cooperative is a business owned and controlled by the people who use its products, supplies or services. The members share the profits and benefits of the business while also being responsible for its debts and obligations. However, their liability is usually limited to the amount of money or capital they have invested in the cooperative.

A Cooperative Is a Business Owned by Two or More