At times, individuals can become partners for only a short period of time, or for only a single project. This activity is defined as a(n):

Question

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A joint venture is a partnership between two or more parties for a specific project or period of time. It is not a long-term partnership and is often created for a specific purpose or goal. While an LLC or LLP can also be formed for a specific project, they are typically viewed as more permanent business structures. Therefore, the best choice for this scenario is A) joint venture.

At Times, Individuals Can Become Partners for Only a Short