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Joint Venture notes on different methods of recording transactions relating to joint venture; difference between consignment and joint venture; difference between joint venture and partnership. QUESTION: Explain different methods of recording transactions relating to Joint Venture? JOINT VENTURE: The Joint venture may be defined as temporary partnership between two or more persons without the use of firm’s…
DIFFERENCE BETWEEN JOINT VENTURE AND CONSIGNMENT The Difference between Joint Venture and Consignment is as follows: JOINT VENTURE Joint venture may be defined as temporary partnership between two or more persons without the use of firm’s name for a specific purpose and limited time period. In other words, two or more persons agree to undertake…
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METHODS OF RECORDING TRANSACTIONS IN JOINT VENTURE The Joint venture may be defined as temporary partnership between two or more persons without the use of firm’s name for a specific purpose and limited time period. In other words, two or more persons agree to undertake a particular venture and to share the profits and losses thereof in…
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Difference Between Joint Venture and Partnership is as follows: PARTNERSHIP Partnership business is a business where two or more persons agree to carry on commercial activity to earn profits. From legal point of view, partnership firm is not a separate legal entity. In other words, it has no existence separate from its partners. It means…
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