Joint Venture
A joint venture is a temporary business arrangement where two or more entities pool resources to accomplish a specific project or activity. Each party shares profits, losses, and control as agreed in the contract. Joint ventures are common in construction, technology, and international business partnerships.
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Joint Cost
Joint cost refers to expenses incurred during a process that produces multiple products simultaneously, such as refining crude oil into…
Just-in-Time (JIT) Inventory
Just-in-Time inventory is a management strategy that reduces waste and storage costs by receiving materials only when needed for production.…
Job Costing
Job costing is a method used to track costs associated with a specific project or job. It records direct materials,…
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