Joint Ventures Are Short-Term Partnerships Between Two or More Companies

question 93

True/False

Joint ventures are short-term partnerships between two or more companies to jointly develop,produce,or sell products.

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Definitions:

Federal Unemployment Tax Rate

A tax rate set by the federal government to fund unemployment compensation payments to workers who have lost their jobs.

Salaries Payable

Salaries payable is an account that records the amounts owed to employees for work performed but not yet paid.

Employer's Payroll Tax Expense

Taxes that employers are required to pay on behalf of their employees, such as Social Security and Medicare taxes, often based on a percentage of the employees' wages.

Gross Payroll

The total amount of money paid by a business to its employees before any deductions are made.