Question: Joint venture is _____ form of business
Options:
Solo proprietorship
Partnership
Corporation
All
✅Explanation:
A joint venture is a partnership between two or more parties who agree to pool their resources for a specific project or business activity. They share the profits, losses, and management responsibilities of the venture.
-Solo proprietorship: This is a business owned and operated by one person. It's a separate legal entity from the owner, but the owner has unlimited liability for the business's debts.
-Corporation: A corporation is a separate legal entity from its owners (shareholders). It offers limited liability protection to its shareholders, meaning their personal assets are generally not at risk for the corporation's debts. While some corporations can form joint ventures, it's not the defining characteristic of a corporation itself.
A joint venture is a partnership between two or more parties who agree to pool their resources for a specific project or business activity. They share the profits, losses, and management responsibilities of the venture.
-Solo proprietorship: This is a business owned and operated by one person. It's a separate legal entity from the owner, but the owner has unlimited liability for the business's debts.
-Corporation: A corporation is a separate legal entity from its owners (shareholders). It offers limited liability protection to its shareholders, meaning their personal assets are generally not at risk for the corporation's debts. While some corporations can form joint ventures, it's not the defining characteristic of a corporation itself.