Greenway Corporation and Happy Trails Inc. combine their efforts to build a network of biking and hiking trails along an unused railroad spur. Their form of business organization is

Question

Quizplus · Accepted Answer

A joint venture is a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task, in this case, building a network of biking and hiking trails. This is not a long-term business entity but rather a partnership for a single project or a series of projects.