Which of the following is an advantage of a corporation over a partnership?

Group of answer choices

1-A corporation has fewer regulatory controls than a partnership.

2-Setting up a corporation is easier, while setting up a partnership requires legal charters.

3-A corporation does not need to send out quarterly financial statements, but a partnership does.

4-A corporation only pays taxes once, while a partnership is subject to double taxation.

5-As a legal entity, a corporation can enter into contracts without as much difficulty as a partnership.