Bao Wang and her brother Chen plan to open a software company and wonder which form of entity they should select. a. Which form of entity should they not select if being able to immediately benefit from operating losses is the most important consideration? b. Which form of entity should they select if being able to pay themselves in fringe benefit is the most important consideration? c. Which form of entity should they select if flexibility with respect to division of profits and losses is the most important consideration?