A general partnership is best defined as a business owned by:

Select one:

a. One or more individuals who are each totally responsible for the debts of the entity.

b. Two or more individuals, only one of whom has unlimited liability for the firm's debts.

c. Two or more individuals, each of whom has limited liability for the firm's debts.

d. Multiple individuals, 80 percent of whom enjoy limited liability.

e. A single individual who desires limited liability for the firm's debts.