Ann and Jack have been partners for several years. Their firm, A & J Tax Preparation, has been very successful, as the pair agree on most business$-$related questions. One disagreem to convince Jack to incorporate. She believes that there is no downside to incorporating and sees only benefits. Jack strongly disagrees; he thinks that the business should remain a pa First, take Ann's side, and explain the positive side to incorporating the business. Next, take Jack's side, and state the advantages to remaining a partnership. Lastly, what information v

Which of the following statements are the advantages of a corporation compared to a partnership? $($Choose all that apply.$)$

A$.$ Low income taxes.

B$.$ Less expensive to organize.

C$.$ Owners have limited liability.

D$.$ Ownership is readily transferable.

E$.$ Long life of firm.