Indicate whether the following statements are "True" or "False" regarding the principal legal and tax forms for conducting a business. a. From a Federal income tax perspective, the corporate form can be divided into two types, S corporation and C or regular corporation. The taxpayer generally is bound for tax purposes by the legal form that is selected. b. C. A limited liability company (LLC) is a hybrid business form that combines the sole proprietorship characteristic of limited liability for the owners with the tax characteristics of a partnership. Indicate whether the following statements are "True" or "False" regarding the nontax factors in making business entity decisions. a. Of the different forms of business entities, the corporate form offers the greatest ease and potential for obtaining owner financing because it can issue additional shares of stock. b. The limited partnership form provides limited liability to all partners. c. A corporation offers its owners limited liability under state law. Indicate whether the following statements are "True" or "False" regarding the tax techniques that are available for eliminating or at least reducing the second layer of taxation. a. Transferring funds to the shareholders that are not deductible to the corporation. b. Not making distributions to the shareholders. C. Making distributions that qualify for return of capital treatment at the shareholder level. d. Making the S corporation election