A business arrangement of 2 or more parties that pool their resources to accomplish a task is:Question 6Select one:a.An Associationb.Corporationc.Joint Ventured.Partnership
Question
A business arrangement of 2 or more parties that pool their resources to accomplish a task is:Question 6Select one:a.An Associationb.Corporationc.Joint Ventured.Partnership
Solution
The correct answer is c. 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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