Indicate whether each of the following statements is true or false. a) Double taxation refers to the fact that both a partnership and its partners must pay income tax on the earnings of the partnership. b) A sole proprietorship is an accounting entity separate from its owner. c) Limited liability is a benefit to both corporations and partnerships, but not to sole proprietorships. d) Unlike a partnership, a corporation is not terminated when a major stockholder withdraws his or her investment. e) Sole proprietorships are, generally, subject to fewer governmental regulations than corporations.

Indicate whether each of the following statements is true or false