Select the correct answere and EXPLAIN your selection.

1. which of the following staements 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. Propietorships are subject to more regulations than cororations.

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. Proprietorships and partnerships generally have a tax advantage over corporations.