Joint Venture Memorandum Account - SS3 Accounting Past Questions and Answers - page 1

An account used to keep track of individual company profits 

An account used to track expenses related to advertising 

An account used to track financial transactions related to a joint venture 

An account used to manage employee salaries

All parties involved in the joint venture 

Only one of the parties involved in the joint venture 

An outside accounting firm 

The government

To allocate profits and losses between the parties involved in the joint venture 

To track employee attendance 

To manage marketing expenses 

To keep track of individual company profits

Yes 

No

A business arrangement in which two or more companies come together to undertake a specific project or activity

A business arrangement in which two or more companies merge into one company 

A business arrangement in which one company acquires another company 

A business arrangement in which one company takes over the operations of another company