Indicate whether each of the following statements is true or false.
1. Limited liability is an advantage of both corporations and partnerships but not sole proprietorships
2. Unlike a partnership, a corporation is not terminated when a major stockholder withdraws his or her investment
3. Corporations are subject to more governmental regulations than sole proprietorships
4. Double taxation refers to the fact that corporations have to pay both federal and state income taxes
5. A corporation is a legal entity separate from its owners

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The Answer of Indicate whether each of the following statements is true or false.
1. Limited liability is an advantage of both corporations and partnerships but not sole proprietorships
2. Unlike a partnership, a corporation is not terminated when a major stockholder withdraws his or her investment
3. Corporations are subject to more governmental regulations than sole proprietorships
4. Double taxation refers to the fact that corporations have to pay both federal and state income taxes
5. A corporation is a legal entity separate from its owners

Indicate Whether Each of the Following Statements Is True or False