What is a joint venture? Multiple Choice an effort in which one firm grants access to its patents and trademarks for a fee an arrangement where one firm contracts with another to produce products to its specifications an arrangement by which one firm provides management to another firm an arrangement in which one firm contracts with another to operate a business under an established name according to specific rules a cooperative effort among two or more organizations that share a common interest in a business enterprise or undertaking

a cooperative effort among two or more organizations that share a common interest in a business enterprise or undertaking

Explanation: Defining a cooperation as a joint venture requires that two or more individuals, groups or cooperation who share a common interest come together to undertake a business enterprise with capital generation, profit sharing and loss incurred being shouldered by the partnering group. This business enterprise is usually different from existing businesses owned by the cooperating groups or partners, that is, the association has no affiliation whatsoever with any pre-existing or existing business projects.

answer; 20% is your answer;

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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