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In Hatch and Slack type plants $\mathrm{CO}_2$ acceptor is
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phosphoenol pyruvate
In Hatch and Slack cycle $\mathrm{CO}_2$ acceptor is phosphoenol pyruvic acid and first product is oxaloacetic acid, (a $4-\mathrm{C}$ compound). Therefore it is popularly termed as $\mathrm{C}_4$ cycle.
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