The Essential Element Which Would Distinguish the Business Undertaking BKT

question 31

Multiple Choice

The essential element which would distinguish the business undertaking BKT Enterprises as a partnership and not a joint venture operation would be:

• A) The business undertaking makes a profit in the year.
• B) There is no joint control agreement so that the undertaking is neither a joint venture entity nor a joint venture operation.
• C) The business activity is an undertaking formed by the investors with the intention of making a profit.
• D) None of the above.

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Definitions:

Horizontal

Oriented parallel to the ground or to the bottom and top edges of something, as opposed to vertical.

Vertical

Oriented upward, perpendicular to the horizon or a horizontal plane.

Rotary

Refers to something revolving around a center or axis, such as a rotary engine or a rotary dial.

Ear Ossicles

The three small bones in the middle ear known as the malleus, incus, and stapes, which transmit sound vibrations from the eardrum to the inner ear.