A form of business association organized to carry out a particular business enterprise is a:
A) joint venture.
B) competitor.
C) sole proprietorship.
D) tenancy in common.

Question

Quizplus · Accepted Answer

A joint venture is a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. Unlike a sole proprietorship, which is owned by one person, or a tenancy in common, which relates to property ownership, a joint venture is specifically formed for a particular business enterprise. Competitors are not a form of business association but rather entities that compete in the same industry or market.

A Form of Business Association Organized to Carry Out a Particular