Zen Corp, an Australian company, and Pluto Inc, an American company, entered into a one-time contract to build an elevated expressway in Florida. The contract was for a period of five years and both companies were held equally liable under the contract. This type of business venture is known as a _____.
A) joint-stock company
B) limited liability company
C) partnership
D) joint venture

Question

Zen Corp, an Australian company, and Pluto Inc, an American company, entered into a one-time contract to build an elevated expressway in Florida. The contract was for a period of five years and both companies were held equally liable under the contract. This type of business venture is known  as a _____.
A) joint-stock company
B) limited liability company
C) partnership
D) joint venture

Quizplus · Accepted Answer

A joint venture is a business arrangement where two or more parties collaborate on a specific project or business activity, sharing both the risks and rewards. In this case, Zen Corp and Pluto Inc entered into a one-time contract to build an expressway, which is characteristic of a joint venture.

Zen Corp, an Australian Company, and Pluto Inc, an American