A business structure in which the business owners share the management and all of the risk of a business is called a ______.

A) sole proprietorship
B) general partnership
C) limited partnership
D) corporation

General Partnership

A business structure where two or more partners share unlimited liability for the debts and obligations of the business.

Sole Proprietorship

A business structure owned by a single individual, where the owner and the business are legally considered the same entity, simplifying operations but also involving personal liability.

Limited Partnership

A partnership structure where some partners are liable only to the extent of their investment while at least one partner has unlimited liability.