Which of the following statements is CORRECT?

A. It is generally more expensive to form a proprietorship than a corporation because, with a proprietorship, extensive legal documents are required.

B. Corporations face fewer regulations than sole proprietorships.

C. One disadvantage of operating a business as a sole proprietorship is that the firm is subject to double taxation, at both the firm level and the owner level.

D. One advantage of forming a corporation is that equity investors are usually exposed to less liability than in a regular partnership.

E. If a regular partnership goes bankrupt, each partner is exposed to liabilities only up to the amount of his or her investment in the business.