Which of the Following Statements Best Describes Firm Organization

Multiple Choice

Which of the following statements best describes firm organization?

A) One of the disadvantages of incorporating a business is that the owners have personal liabilities when firm goes bankrupt.
B) Sole proprietorships are subject to more regulations than corporations.
C) In any type of partnership, every partner has the same rights, privileges, and liability exposure as every other partner.
D) Sole proprietorships and partnerships generally have a tax advantage over corporations, especially large ones.