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Under the check-the-box regulations, which of the following statements is true?a)Unincorporated entities with more than one owner may elect to be classified as sole proprietorships, partnerships, or corporations.b)Unincorporated entities with only one owner may elect to be classified as a sole proprietorship or partnership.c)If no election is made, an unincorporated entity with two or more owners is treated as a partnership for tax purposes.d)Entities incorporated under state law with two or more shareholders may elect to be treated as partnerships for tax purposes.
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