5. Which of the following statements is FALSEX A. C Corporations are subject to double taxation, a tax at the corporate level and a tax at the shareholder level. B. An S Corporation does not pay income tax but its Shareholders do. C. A Limited Liability Company (LLC) with two Members must be taxed as a Partnership D. A Limited Liability Company (LLC) with one Member may be taxed as an S Corporation. 6. All of the following are characteristics and advantages of a C Corporation EXCEPT: A. The numbers of shareholders is limited to 100. B. Ability to raise capital. C. Easy to transfer ownership interests D. Limited Liability