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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