Which of the following statements is CORRECT? I. Corporations are subject to corporate income tax while partnerships are subject to partnership income tax. II. Proprietorships are subject to more regulations than corporations. III. One of the advantage of the partnership is that it avoids double taxation. O a. Only II is correct O b. Only I and II are correct O c. Only III is correct O d. Only I and III are correct Oe. Only II and III are correct