Use the chart to answer the following question.Types of Business OrganizationWhat is the difference in terms of liability between a partnership and a corporation?A corporation has unlimited liability because the life of the business does not rely on the owner.A corporation has limited liability because the responsibility falls on the company and not the owner.A partnership has unlimited liability because they are only taxed once by the government.A partnership has limited liability because the profits are split between partners.

Number of Life Liability Tax Owners Span Corporation many unlimited limited double Partnership 2 or more limited unlimited single Sole ? limited unlimited single Proprietorship