Which of the following statements is true? Select one: a. An advantage of incorporation is the unlimited liability of the owners. * b. Financial statements prepared for a sole proprietorship must not be combined with the owner's personal affairs. o It is the primary responsibility of the Securities & Exchange Commission to work out the detailed rules that are Generally Accepted Accounting Principles. d. A partnership is a taxable entity. C. e. Issuing stock is an operating activity of a business