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Which of the following statements is CORRECT? (Points : 5) Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones.

Which of the following statements is CORRECT? (Points : 5)
Sole proprietorships and partnerships generally have a tax advantage over many
corporations, especially large ones.
Sole proprietorships are subject to more regulations than corporations.
In any type of partnership, every partner has the same rights, privileges, and liability
exposure as every other partner.
Corporations of all types are subject to the corporate income tax.

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