While Partnerships and Joint Ventures Have Some Similarities, They Have

question 1

Multiple Choice

While partnerships and joint ventures have some similarities, they have significant differences.Which of the following is TRUE with regard to partnerships and joint ventures?

• A)Joint ventures and partnerships are separate taxable entities.
• B)All members of a joint venture are subject to the same CCA decision in a given tax year, while partners in a partnership may each decide their own amount of CCA to be deducted.
• C)The proportionate allocation of the small business applicable to corporate partners does not apply to corporate joint venture members.
• D)Joint ventures have less flexibility than partnerships with regard to their tax decisions.

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Definitions:

Perceptual Differences

Variations in the way individuals interpret, analyze, and understand the same information or situation, influenced by their backgrounds, experiences, and biases.

The Setting

The physical or social context within which events, actions, or processes take place.

The Perceiver

The individual in the process of perception who interprets and makes sense of information or stimuli received from the environment.

Impression Management

The process by which individuals attempt to control the impressions others form of them, especially in social or professional contexts.