Which of the following is true of general partnerships?
a. In a general partnership, a partner is liable only for his/her own mistakes.
b. All general partners have unlimited liability for the debts and obligations of their business.
c. In case of a lawsuit filed against a general partnership, only the assets invested in the business by thepartners are at risk, not their personal assets.
d. In case of a lawsuit filed against a general partnership, the partner who has put in the least investment intothe business is always targeted first.
b
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