In a venture in which there are jointly controlled assets,the venturers share the assets as tenants in common; which means that:
A) each venturer has a proportionate interest in each joint controlled asset.
B) each venturer has a distinct but unidentifiable share of each jointly controlled asset.
C) each venturer has a distinct and identifiable share of each jointly controlled asset.
D) none of the above.

Question

Quizplus · Accepted Answer

Tenants in common typically have distinct and identifiable shares of an asset. This means each venturer has a specific portion of each joint asset under their control. Therefore, option C is the most appropriate answer.

In a Venture in Which There Are Jointly Controlled Assets,the