Question

memorandum joint venture?​

Answer 1

Answer:

Memorandum Joint Venture Account is just like a trading and profit and loss Account. All the co- venturers prepare the same Memorandum Joint Venture Account. The balance amount of Memorandum Joint Account shows either profit or loss on Joint Venture. The Co-venturers share the profit or loss in the agreed ratio.

Answer 2

Answer:

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We know that Joint Venture is an agreement whereby two or more parties join together to carry a specific business for a specific period of time. It is controlled jointly by all the parties to the joint venture and the profits and losses are shared as per the agreed ratio.