A Joint Venture Is Defined in AASB 11 As

question 38

Multiple Choice

A joint venture is defined in AASB 11 as:

• A) an arrangement whereby two or more parties carry on business with a common goal to make a profit and each can commit the joint venture to debts through decisions made unilaterally.
• B) an arrangement whereby two or more venturers establish a common activity in which they jointly and severally take responsibility for liabilities and expenses and obtain the benefits of outputs generated.
• C) a legal entity constituted by venturers pursuing a common goal and sharing control of assets and responsibility for expenses and liabilities.
• D) a joint arrangement whereby two or more parties undertake an economic activity that is subject to joint control and have rights to the net assets of the arrangement.

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Definitions:

Compositional Mode

The method or style used in creating a piece of writing, music, or art.

Teasers

Short and engaging pieces of content designed to intrigue the audience and stimulate interest in a product, service, or event.

Digital Media

Content or communication expressed through digital channels, including internet, digital audio, and video.

Face-To-Face Meeting

A personal interaction or conference between two or more individuals in the same physical space, allowing for direct communication and engagement.