Accounting For Joint Ventures
Accounting for joint venture is planned as a firm (corporate joint venture), as a partnership, or as entire interests under which each investor owns whole interest in each joint venture asset and is legally responsible for its share of each joint venture liability.It is known as Joint Venture.
Joint Venture Accounting Questions and Answers: Learning Objectives: Answers of some important joint venture questions. Theoretical Questions: Define a “joint venture”. What are the different methods of recording transactions relating to joint venture? Differentiate between “joint venture” and “consignment”. What is memorandum joint venture