Multiple Choice QuestionA partnership established for a specific project or for a limited time is called a ______.Multiple choice question.limited liability companyjoint venturecooperativegeneral partnership
Question
Multiple Choice QuestionA partnership established for a specific project or for a limited time is called a ______.Multiple choice question.limited liability companyjoint venturecooperativegeneral 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 or project. This task may be a new project or any other business activity. It is limited in time and therefore, once the project is completed, the joint venture is usually disbanded.
Similar Questions
Multiple Choice QuestionA state-chartered legal entity with authority to act and have liability separate from its owners is a ______.Multiple choice question.general partnershipstakeholdercorporationsole proprietorship
Multiple Choice QuestionWhat is required to start a partnership?Multiple choice question.Master partnership agreementStatement of intentArticles of partnershipCorporate charter
Multiple Choice QuestionOne advantage of a partnership is that ______.Multiple choice question.it is easy to createthere is unlimited liabilityit has perpetual lifethere are no taxes
Multiple Choice QuestionA company that lacks sufficient resources to operate in another country may choose to form a(n) Blank______ by finding a local partner to share the costs and operation of the business.Multiple choice question.importing agreementdirect investmentjoint ventureoutsourcing partnership
Multiple Choice QuestionA business owned and controlled through pooled resources by the people who use it is a(n) ______.Multiple choice question.cooperativelimited liability companyS corporationlimited partnership
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.