Asked by gloria goodman on Jul 04, 2024

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What type of business organization is best suited for the situation of Kool Science and Language Fun?

A) Cooperative.
B) Joint Venture.
C) Business Trust
D) General partnership
E) Corporation

Joint Venture

A business arrangement in which two or more parties agree to pool resources for the purpose of accomplishing a specific task.

  • Learn the unique aspects distinguishing joint ventures from various other business partnership arrangements.
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Verified Answer

JC
Jesus CabralesJul 10, 2024
Final Answer :
B
Explanation :
A joint venture is best suited for the situation because it involves two companies (Kool Science, Inc. and Language Fun, Inc.) coming together for a specific project (creating and marketing three educational toys) without necessarily merging into a single entity. This allows them to collaborate on the project while maintaining their separate identities and business operations.