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16) Which of the following is true of a partnership and a corporation?A) In a corporation, income is taxed at the corporate level; whereas, in a partnership, income is taxed twice.B) In a partnership, income is taxed at the corporate level; whereas, in a corporation, income is taxed twice.C) Income from both forms of organizations are double-taxed.D) In a partnership, income is exempted from tax up to $10 million; whereas, in a corporation, income is taxed twice.

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