20 of 30 Which of the following statements is CORRECT? 1. Corporations are subject to corporate income tax while partnerships are subject to partnership income tax. II. Proprietorships are subject to more regulations than corporations. III. One of the advantage of the partnership is that it avoids double taxation. O a. Only Il and ill are correct O b. Only I and I are correct Oc. Only III is correct Od. Only I and Ill are correct e. Only Il is correct