Which of the Following Is True Regarding Joint Ventures

question 60

Multiple Choice

Which of the following 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:

Ethics

Moral principles that govern a person's behavior or the conducting of an activity, shaping judgments about what is right or wrong.

Supervision

The act of overseeing the work and performance of others, often used in professional contexts to ensure quality and provide guidance or mentoring.

Developmental Perspective

An approach that considers the influence of physical, cognitive, and social growth on behavior and thinking at various life stages.

Cultural Perspective

Viewing issues, behaviors, and treatments in the context of the individual's cultural background and beliefs, recognizing the impact of culture on mental health.