Define a joint venture and list the elements necessary for a finding of a joint venture
A joint venture is a one-time partnership of two or more persons for a specific purpose which terminates when the project is completed.. A joint venture requires that the parties (1) share a community of interest; (2) have the mutual right to direct and govern; (3) share the partnership's profits and losses; and (4) combine their property, money, effort, skill, or knowledge in the undertaking.
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Indicate whether the statement is true or false
Which method of setting advertising budgets best helps management think about the relationship between promotion spending, selling price, and profit per unit?
A) adaptive-control method B) objective-and-task method C) competitive-parity method D) affordable method E) percentage-of-sales method
Although Allowance for Doubtful Accounts normally has a credit balance, it may have either a debit or a credit balance before adjusting entries are recorded at the end of the accounting period
Indicate whether the statement is true or false
Use __________________ sentences to make strong assertions or surprising observations
a. interrogative b. exclusionary c. exclamatory d. persuasive