Question

A functional arrangement in which two or more firms want to reduce the financial risks associated with a project is known as​ a(n) ________.

a) Joint Venture
b) Strategic Alliance
c) Licensing Agreement
d) Franchise

Answer 1

A joint venture is a functional arrangement in which two or more firms come together to reduce the financial risks associated with a project by pooling their resources and expertise.

Step-by-step explanation:

A functional arrangement in which two or more firms want to reduce the financial risks associated with a project is known as a joint venture. In a joint venture, the participating firms pool their resources and expertise to undertake a specific project or business venture. This allows them to share the costs, risks, and rewards associated with the project.