Which of the following is true regarding joint ventures?
A)Generally,joint ventures are taxed like corporations.
B)If one of the members of a joint venture dies,the joint venture is automatically terminated.
C)Members of a joint venture are agents of the other members.
D)A joint venture may be formed without drawing up a formal agreement.
E)Courts frequently apply sole proprietorship law to joint ventures.

Question

Quizplus · Accepted Answer

Like a partnership,a joint venture may be formed without drawing up a formal agreement.

Which of the Following Is True Regarding Joint Ventures