A group of firms that share in a certain contract or project on a pre-agreed basis but acts as one company toward the customer is known as a(n)
A)consortium.
B)merger.
C)joint venture.
D)acquisition.

Question

Quizplus · Accepted Answer

A consortium is a group of companies that joins together to bid on and share a project or contract. While they operate as separate entities, they act as a single entity when dealing with the customer. A merger is two or more companies combining to form a single entity, a joint venture is a specific legal structure where two or more parties agree to work together on a specific project or business, and an acquisition is when one company purchases or merges with another company.

A Group of Firms That Share in a Certain Contract