_____ is defined as a percentage share of an expensive asset and is most often used for aircraft, sports cars, and real property.
A) Fractional ownership
B) Limited liability partnership
C) Joint venture
D) Limited partnership

Question

Quizplus · Accepted Answer

Fractional ownership is the term used for sharing an expensive asset, such as an aircraft or sports car, among multiple owners who each own a percentage share of the asset. This arrangement allows for sharing the costs and maintenance of the asset while still allowing each owner to enjoy its use. Fractional ownership can also be used for real property, such as vacation homes or investment properties. Limited liability partnership (B), joint venture (C), and limited partnership (D) are all forms of business partnerships and not directly related to owning an expensive asset.

_____ Is Defined as a Percentage Share of an Expensive