Mark only those statements below $-$ that are TRUE about a General Partnership type of firm:

$($HINT: deducted marks for wrong answers$)$

Select one or more:

$$ Is similar to a Sole Proprietorship in terms of liability risk?

$$ The last Partner to join assumes more risk than the first partner?

Will need Business Liability Insurance to lower the Partner's risk level?

O A General Partnership can accept Limited Partners too?

General Partnerships are advised to buy liability insurance to protect their personal assets?

$$ General Partnerships are superior since their taxes are lower?

Will need to bring on Limited Partners to limit their liability and spread it evenly amongst all types of Partners in the firm?

$$ General Partnerships are among the riskiest depending on the Firms core business?