Which of the Following Is Incorrect Concerning a Joint Venture

question 35

Multiple Choice

Which of the following is incorrect concerning a joint venture?

• A)Joint ventures are limited to single projects.
• B)Joint venturers are personally liable for its debts.
• C)Joint ventures are created much like partnerships.
• D)Joint venturers have more implied and apparent authority than do partners in a partnership.

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Definitions:

Bonus Bill

Legislation proposed after the War of 1812 to allocate federal funds for the construction of roads and canals, which was vetoed by President Madison in 1817 on constitutional grounds.

Unconstitutional

Something that is not in accordance with the constitution of a country or government, and therefore is considered illegal or void.

Federal Assistance

Refers to financial support provided by the federal government to individuals, organizations, or state and local governments, typically for services, projects, or programs that further public objectives.

Steamboat

A boat powered by steam engines, significant in the 19th century for transforming transportation, commerce, and navigation on rivers and lakes.