Which of the following statements is true of joint ventures?

Which of the following statements is true of joint ventures? 

A. It requires both partners involved to allocate revenues and expenses equally between them.

B. It is not considered a separate entity from any of the partners that own it.

C. It does not require its partners to lose more than what each partner has invested in it.

D. It is never taxed as a partnership.

Answer: C

Partnerships through which two or more businesses combine to undertake a specific economic activity are called _____.

Partnerships through which two or more businesses combine to undertake a specific economic activity are called _____. 

A. corporations

B. sole proprietorships

C. joint ventures

D. S-corporations

Answer: C

The most highly desired form of insurance for most employees is _____.

The most highly desired form of insurance for most employees is _____. 

A. life insurance

B. medical insurance

C. credit insurance

D. disability insurance

Answer: B

The most common type of disability coverage is _____ which provides funds to the business to purchase the ownership position of a disabled partner.

The most common type of disability coverage is _____ which provides funds to the business to purchase the ownership position of a disabled partner. 

A. life insurance

B. medical insurance

C. credit insurance

D. buyout insurance

Answer: D