Question

Creative Concepts Co. and Retail Investment, Inc., form a joint venture to purchase and sell high?end real estate to foreign buyers. Creative Concepts contributes $400,000 in capital, and Retail Investment contributes $600,000 in capital. The first year resulted in $2,000,000 in profits. Unless otherwise agreed, joint venturers:
a. share profits and losses by proportion to the amount invested.

b. share profits and losses equally.

c. retain profits with the joint venture until the joint venture is dissolved by at least one member.

d. share profits and losses according to the state's Uniform Joint Venture Act.

Answer 1

Answer:

d. share profits and losses according to the state's Uniform Joint Venture Act.

Explanation: