Which of the following statements is CORRECT?

Group of answer choices

Corporations of all types are subject to the corporate income tax.

Proprietorships are subject to more regulations than corporations.

Proprietorships and partnerships generally have a tax advantage over corporations.

In any partnership, every partner has the same rights, privileges, and liability exposure as every other partner.

One of the disadvantages of incorporating your business is that you could become subject to the firm's liabilities in the event of bankruptcy.