A joint operation:

Question

A joint operation:

Quizplus · Accepted Answer

A joint operation is a type of joint arrangement where the parties involved have rights to the assets and obligations for the liabilities relating to the arrangement. This is different from a joint venture (option B), where the parties involved are typically focused on achieving specific business objectives without necessarily taking on joint control or ownership of assets. Option A is incorrect because a joint operation is not typically set up as a partnership, and option D is incorrect because joint operations do involve rights and obligations for the parties involved.

A Joint Operation