Final answer:
Sole proprietors and general partners in a general partnership are personally responsible for all of the firm's debts, as there is no legal distinction between them and the business entities.
Step-by-step explanation:
Individuals who are personally responsible for 100 percent of the firm’s debts are typically sole proprietors or general partners in a general partnership. A sole proprietorship is a business owned by one person where there is no legal distinction between the owner and the business. In this business structure, the owner is fully liable for all debts and obligations of the business.
Likewise, in a general partnership, each of the general partners has unlimited personal liability for the debts of the business, meaning they are responsible for all the debts if the business's assets are insufficient to cover them.