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Following are the differences between Partnership and Joint Venture except:
- a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.
- b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.
- c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.
- d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.
Correct answer is option 'D'. Can you explain this answer?
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Following are the differences between Partnership and Joint Venture ex...
Difference between Partnership and Joint Venture except Memorandum of Understanding
Partnership and Joint Venture are two business structures that are commonly used in the corporate world. While they share some similarities, there are some differences between them. The differences between Partnership and Joint Venture are as follows:
Joint Venture
- Joint venture is essentially planned for short term mainly for one contract/deal.
- The persons involved in a joint venture are called co-venturers.
- Any specific statute of the Government does not govern joint ventures.
- Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers.
Partnership
- Partnerships are normally undertaken as going concerns and are expected to last for a very long period.
- Persons involved in a partnership are called partners.
- The Indian Partnership Act, 1932, governs partnerships.
- The basic relationship between the partners is defined by the partnership deed.
Except for the Memorandum of Understanding, all the other differences are true for Partnership and Joint Venture. A Memorandum of Understanding is a legal document that outlines the terms and details of an agreement between the parties. It is a document that is used to establish the understanding between the parties before they enter into a formal agreement. In the case of Joint Venture, a Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers. However, in the case of Partnership, the basic relationship between the partners is defined by the partnership deed. Therefore, the correct answer is option 'D'.
Partnership and Joint Venture are two business structures that are commonly used in the corporate world. While they share some similarities, there are some differences between them. The differences between Partnership and Joint Venture are as follows:
Joint Venture
- Joint venture is essentially planned for short term mainly for one contract/deal.
- The persons involved in a joint venture are called co-venturers.
- Any specific statute of the Government does not govern joint ventures.
- Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers.
Partnership
- Partnerships are normally undertaken as going concerns and are expected to last for a very long period.
- Persons involved in a partnership are called partners.
- The Indian Partnership Act, 1932, governs partnerships.
- The basic relationship between the partners is defined by the partnership deed.
Except for the Memorandum of Understanding, all the other differences are true for Partnership and Joint Venture. A Memorandum of Understanding is a legal document that outlines the terms and details of an agreement between the parties. It is a document that is used to establish the understanding between the parties before they enter into a formal agreement. In the case of Joint Venture, a Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers. However, in the case of Partnership, the basic relationship between the partners is defined by the partnership deed. Therefore, the correct answer is option 'D'.
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Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer?
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Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer?.
Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Following are the differences between Partnership and Joint Venture except:a)Joint venture is essentially planned for short term mainly for one contract/deal. However, partnerships are normally undertaken as going concerns and are expected to last for a very long period.b)The persons involved in a joint venture are called co-venturers whereas persons involved in a partnership are called partners.c)Any specific statute of the Government does not govern joint ventures but the Indian Partnership Act, 1932, governs partnerships.d)Memorandum of Understanding is mandatory to be drafted to spell the relationship between the co-venturers whereas the basic relationship between the partners is defined by the partnership deed.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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