Which of the following statements is CORRECT? SELECT ALL THAT APPLY It is usually easier to transfer ownership in a corporation than in a partnership. One advantage of forming a corporation is that equity investors are usually exposed to less liability than they would be in a partnership. One disadvantage of a sole proprietor is that it is subject to double taxation. Corporate shareholders are exposed to unlimited liability It is generally less expensive to form a corporation than a proprietorship because, with a proprietorship, extensive legal documents are required. Corporations generally find it easier to raise large amounts of capital. If a partnership goes bankrupt, each partner is exposed to liabilities only up to the amount of his or her investment in the business Assuming the firm is profitable, none of its income will be subject to federal income taxes. One of the disadvantages of a proprietorship is that the proprietor is exposed to unlimited liability.