Final answer:
A joint venture is a limited partnership created for one limited purpose.
The correct answer is B) Limited Partnership.
Step-by-step explanation:
In a limited partnership, there are two types of partners: general partners and limited partners. The general partners are responsible for managing the day-to-day operations of the business, while the limited partners contribute capital but have limited involvement in the business decision-making process. This structure allows for a clear division of responsibilities and limits the liability of the limited partners.
The correct answer is B) Limited Partnership.