A separate company created and jointly owned by two or more independent entities to achieve a common business objective is called a ________.
A) wholly owned subsidiary
B) joint venture
C) strategic alliances
D) turnkey project

Question

Quizplus · Accepted Answer

A joint venture is a business arrangement in which two or more independent entities create a separate company to achieve a common business objective. The entities involved in the joint venture usually share the ownership, control, and profits of the new company. A wholly owned subsidiary is owned entirely by a single parent company. Strategic alliances are partnerships between companies to achieve specific goals, but they do not involve the creation of a new company. A turnkey project is a type of project in which a contractor designs and constructs a fully operational facility or project that is ready to be handed over to the owner.

A Separate Company Created and Jointly Owned by Two or More