Which of the Following Statements Is CORRECT

Multiple Choice

Which of the following statements is CORRECT?

A) One of the disadvantages of incorporating your business is that you could become subject to the firm's liabilities in the event of bankruptcy.
B) Sole proprietorships are subject to more regulations than corporations.
C) In any partnership, every partner has the same rights, privileges, and liability exposure as every other partner.
D) Corporations of all types are subject to the corporate income tax.
E) Sole proprietorships and partnerships generally have a tax advantage over corporations.