According to GAAP, What Is the Key Feature of a Joint

question 7

Multiple Choice

According to GAAP, what is the key feature of a joint arrangement?

• A) One venturer has a controlling interest in the joint arrangement.
• B) More than one venturer has a controlling interest in the joint arrangement.
• C) Joint control, namely, no one venturer can unilaterally control the venture regardless of the size of the equity contribution.
• D)The two largest equity contributors will have joint control over the venture.