Question

State with reasons whether the following statements are True or False.

Joint venture is a business agreement in which parties agree to develop for a infinite time.

Answer 1

Joint venture is a business agreement in which parties agree to develop for a infinite time- False

Explanation:
The above statement is incorrect. In fact, joint venture is a business agreement in which parties agree to develop for a finite time, which means for a fixed period of time. That is, joint ventures are jointly formed by two or more organizations for mutual benefits for a fixed period of time.