Question

Profit or loss on joint venture is shared by the

co-ventures​

Answer 1

Answer:

On the other hand, the co-venturers of a joint venture share profits as per the agreed profit sharing ratio. Ownership of Goods − Ownership of the goods remains with the consignor. Consignor transfers only possession to the consignee, but every co-venturer of a joint venture is the co-owner of the goods/project.