Explain the difference between a joint arrangement, joint control, joint operation and a joint venture.

Question

Quizplus · Accepted Answer

The Answer is A joint arrangement is a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control by those parties.
Joint control is the contractually agreed upon sharing of control over an economic activity. Joint control exists only when the strategic decisions relating to the activity require the unanimous consent of the parties sharing control.
Joint operation is a type of joint arrangement where the investor has rights to the assets and obligations for the liabilities of the arrangement.
Joint venture is a type of joint arrangement where the investor has rights to the net assets of the arrangement.

Explain the Difference Between a Joint Arrangement, Joint Control, Joint