Clark Corp., an automobile manufacturer, purchases Forward Inc., a company that produces auto parts and accessories. This scenario exemplifies

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This scenario exemplifies an acquisition, where Clark Corp. acquires Forward Inc. and becomes the owner of the company. Consolidation involves the merger of two or more companies to create a new entity, while a partnership typically involves two or more businesses working together to achieve a common goal. A joint venture is a specific type of partnership where two or more businesses create a separate entity to achieve a specific goal, and a strategic alliance is a partnership where two or more businesses collaborate to achieve a mutual benefit, but do not form a separate entity.