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Which of the following statements is/are true? I. Sole proprietorship has only one owner. II. Both partnership and corporation can have unlimited term of existence.

Which of the following statements is/are true? I. Sole proprietorship has only one owner. II. Both partnership and corporation can have unlimited term of existence. III. Corporation suffers from double taxation.

All are correct

Only I and III are correct

Only II and III are correct

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