Question $11$

$1$ pts

Multiple Choice: Conceptual

Please note that some of the answer choices, or answers that are very close, are used in different questions. This has caused us no difficulties, but please take this into account when you make up exams.

Which of the following statements is CORKECT?

In any partnership, every partner has the same rights, privileges, and liability exposure as every other partner.

Proprietorships are subject to more regulations than corporations.

Proprietorships and partnerships generally have a tax advantage over corporations.

One of the disadvantages of incorporating your business is that you could become subject to the firm's liabilities in the event of bankruptcy.

Corporations of all types are subject to the corporate income tax.