Co-ownership of the means or instrumentality of accomplishing a single business transaction or a limited series of transactions ordinarily results in a:
A) partnership.
B) joint venture.
C) corporation.
D) R & D partnership.

Question

Quizplus · Accepted Answer

Co-ownership of the means or instrumentality of accomplishing a single business transaction or a limited series of transactions usually results in a joint venture. A partnership involves co-ownership of a business entity that carries out ongoing operations. A corporation involves co-ownership of a legal entity that is separate and distinct from its owners. An R & D partnership involves co-ownership of a research and development project.

Co-Ownership of the Means or Instrumentality of Accomplishing a Single