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In a partnership, what does the term 'joint venture' refer to?
In a partnership, what does the term 'joint venture' refer to?
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Q1
In a partnership, what does the term 'joint venture' refer to?
A partnership formed for a specific project
A permanent partnership with no end date
A partnership that requires equal capital contribution
A partnership that is limited to two partners only
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A joint venture is a partnership formed for a specific project or purpose, often with a defined time frame.
Questions & Step-by-step Solutions
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Q
Q: In a partnership, what does the term 'joint venture' refer to?
Solution:
A joint venture is a partnership formed for a specific project or purpose, often with a defined time frame.
Steps: 4
Show Steps
Step 1: Understand that a partnership is when two or more people or companies work together.
Step 2: Know that a 'joint venture' is a special type of partnership.
Step 3: Realize that a joint venture is created for a specific project or goal.
Step 4: Remember that joint ventures usually have a set time period for how long they will work together.
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