Both partnerships and corporations incur double taxation

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Reference no: EM131022848

Which one of the following statements is correct?

A. Both partnerships and corporations incur double taxation.

B. Both sole proprietorships and partnerships are taxed in a similar fashion.

C. Partnerships are the most complicated type of business to form.

D. Both partnerships and corporations have limited liability for general partners and shareholders.

E. All types of business formations have limited lives.

Reference no: EM131022848

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