Stephen and Jake currently own a business as a partnership but are considering changing to a corporation. They have asked their attorney to assist them in making the decision. They already know a major advantage of a partnership is

A$)$ there is unlimited personal liability for all partners

B$)$ a partnership automatically dissolves upon the death of a partner

C$)$ taxable income and tax losses are not taxed at the partnership level

D$)$ the sale or liquidation of a partnership may cause tax problems