Which of the following statements is CORRECT? a. Corporations face fewer regulations than proprietorships. b. It is generally less expensive to form a corporation than a proprietorship because, with a proprietorship, extensive legal documents are required. c. One disadvantage of operating a business as a proprietor is that the firm is subject to double taxation, because taxes are levied at both the firm level and the owner level. d. If a partnership goes bankrupt, each partner is exposed to liabilities only up to the amount of his or her investment in the business. e. One advantage of forming a corporation is that equity investors are usually exposed to less liability than they would be in a partnership