Which of the Following Statements Is True Regarding Joint Ventures

question 33

Multiple Choice

Which of the following statements is true regarding joint ventures?

• A) Participants in a joint venture usually share profits equally, but share losses based on the percentage of contribution.
• B) Participants in a joint venture usually share losses equally, but share profits based on the percentage of contribution.
• C) The joint venture is not automatically terminated when one of the members dies.
• D) A joint venture requires the filing of a formal agreement with the state.
• E) Courts frequently apply sole proprietorship law to joint ventures.

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Definitions:

Pleasure Principle

A psychoanalytic concept that describes people's instinctual seeking of pleasure and avoidance of pain to satisfy biological and psychological needs.

Ego

A part of the psyche that mediates between the conscious, the unconscious, and the reality by deploying defense mechanisms.

Superego

A component of Sigmund Freud's psychoanalytic theory, representing the moral conscience and the ideal self, influenced by societal and parental standards.

Conservative

A political and social philosophy that promotes retaining traditional social institutions in the context of culture and civilization.