A partnership formed to operate for a specific time period or to accomplish a specific purpose is known as a
A) conglomerate.
B) cooperative.
C) joint venture.
D) corporation.
E) joint merger.

Question

Quizplus · Accepted Answer

A joint venture is a partnership between two or more parties formed to undertake a specific business transaction or project for a limited period of time. This allows the parties involved to pool resources and expertise to achieve a common goal without committing to a long-term partnership.

A Partnership Formed to Operate for a Specific Time Period