Which of the following describes a joint venture?
A)Entities with limited lives that a company creates to achieve a specific objective.
B)An association of two or more entities for the purpose of achieving a specific goal.
C)Corporations that U.S.tax laws treat as partnerships,and they do not pay income taxes.
D)A special type of partnership that confines the limited partner's potential loss to the amount of his or her investment.

Question

Quizplus · Accepted Answer

A joint venture is an association of two or more entities that come together for a specific purpose or to achieve a specific goal. Each entity brings something to the venture, such as expertise or resources, to share the benefits and risks of the venture. Joint ventures can be formed between businesses, individuals, or even countries.

Which of the Following Describes a Joint Venture