Company a and B Agree to Engage in a Joint

Multiple Choice

Company A and B agree to engage in a joint venture. Which of the following statements pertaining to joint ventures is correct?

A) Both parties to a joint venture must contribute an equal amount of resources to the venture.
B) The party contributing the most resources to the venture has control over the venture.
C) Both parties have joint control over the venture.
D) All joint ventures have a stated economic useful life.