The Essential Element That Would Distinguish a Business Undertaking as a Partnership

question 33

Multiple Choice

The essential element that would distinguish a business undertaking 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:

Motivation

The psychological processes that arouse, direct, and maintain human behavior towards achieving a goal.

Emotion

A complex psychological state involving an individual's subjective experience, physiological response, and behavioral or expressive response.

Transcendence Need

A psychological term referring to the human desire to go beyond the self and have experiences with spiritual dimensions or universal truths.

Internal Locus

The belief that one has control over their life events and outcomes, as opposed to external forces having that control.