The Blank______ is a relationship between two or more persons or corporations that is created for a specific business undertaking.Multiple choice question.joint venturelimited liability partnershipcooperativelimited partnership
Question
The Blank______ is a relationship between two or more persons or corporations that is created for a specific business undertaking.Multiple choice question.joint venturelimited liability partnershipcooperativelimited partnership
Solution
The correct answer is "joint venture". A joint venture is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture, each of the participants is responsible for profits, losses, and costs associated with it. However, the venture is its own entity, separate and apart from the participants' other business interests.
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