When comparing corporate and individual taxation the following statements are true, except:
a. Individuals have exemptions and a standard deduction, corporations do not.
b. Both types of taxpayers have percentage limitations on the charitable contribution deduction, coupled with a carryover of the excess contribution.
c. All taxpayers may carry net operating losses back two years, forward 20.
d. Both corporate and individual taxpayers may have a long-term capital loss carryforward.