Question on: SS3 Accounting - Differences Between Partnership And Joint Ventures
What is the main difference between a partnership and a joint venture?
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A
The partnership is a long-term business collaboration, while the joint venture is a short-term project-based collaboration.
B
The partnership involves separate entities, while a joint venture involves a jointly-owned business.
C
The partnership is informal, while a joint venture is a formal business entity.
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Correct Option: A
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