In a general partnership, each partner has unlimited liability, meaning they are fully responsible for all partnership debts, regardless of their investment. Option A describes limited liability, applicable to corporations or limited partnerships. Option C is incorrect, as partnerships are simpler and less costly to start than corporations. Option D is incorrect, as partners typically have control over daily decisions. This question falls under the Entrepreneurship category, focusing on business structures.
[Reference:ETS Praxis Business Education: Content Knowledge (5101) Study Companion, Section on Entrepreneurship; Business Law, Chapter 14., , ]
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