Final answer:
The general partnership is the least desirable structure from a liability perspective because each partner is personally liable for the business's debts and obligations, potentially putting their personal assets at risk.
The correct option is b.
Step-by-step explanation:
When considering business structures and their liability implications, the general partnership represents the least desirable structure from a liability perspective. This is because, in a general partnership, each partner is jointly and severally liable for the business's debts and obligations.
This means that if the business incurs debt or is sued, the personal assets of the partners could be at risk to cover the business liabilities.
By contrast, the other business structures mentioned offer some degree of personal liability protection. For instance, an "S" corporation or a limited liability company (LLC) both provide their owners with personal liability protection,
meaning that owners are typically not personally responsible for business debts and liabilities beyond their investment in the company. A limited partnership also offers limited liability for certain partners, but at least one partner must be a general partner with unlimited liability.
The correct option is b.