Under ASPE, what are the types of joint ventures?
A)Jointly controlled operations, jointly controlled assets, and jointly controlled enterprises.
B)Jointly controlled operations, jointly controlled liabilities, and jointly controlled enterprises.
C)Jointly controlled operations, jointly controlled assets, and jointly controlled ventures.
D)Jointly controlled operations, jointly controlled liabilities, and jointly controlled ventures.

Question

Quizplus · Accepted Answer

Under ASPE, the types of joint ventures are jointly controlled operations, jointly controlled assets, and jointly controlled enterprises. Jointly controlled operations involve the use of the assets and resources of the venture to carry out specific activities. Jointly controlled assets involve the joint control and use of specific assets, such as property, plant, and equipment. Jointly controlled enterprises involve the creation of a separate entity in which the parties have joint control and economic interests. Jointly controlled liabilities are not a type of joint venture recognized under ASPE.

Under ASPE, What Are the Types of Joint Ventures