According to GAAP, What Is the Key Feature of a Joint

Multiple Choice

According to GAAP, what is the key feature of a joint arrangement?

A) One venturer has a controlling interest in the joint arrangement.
B) More than one venturer has a controlling interest in the joint arrangement.
C) Joint control, namely, no one venturer can unilaterally control the venture regardless of the size of the equity contribution.
D) The two largest equity contributors will have joint control over the venture.