What describes a temporary business that involves a single transaction or a predetermined number of transactions?

A joint venture is characterized as a temporary business organization formed by two or more parties for a specific purpose, often involving a single transaction or a limited number of transactions. This arrangement is typically established for a finite period and is often utilized for particular projects, like real estate developments or other unique business ventures, where parties collaborate while maintaining their separate legal identities.

In contrast, other options reflect different business structures. A partnership is a more enduring relationship between parties engaging in business operations, while a sole proprietorship is an individual-run business with no distinction between the owner and the business. A corporation is a legal entity that exists independently of its owners with a more complex structure, including ongoing operations and regulatory obligations. Therefore, a joint venture specifically aligns with the description of a temporary business focused on limited, defined transactions.