joint venture an association of persons formed to carry through a sin- gle piece of business, as opposed to a PARTNERSHIP, which implies con- tinuity of business. Nevertheless, in the absence of a specific corporate form being employed, partnership principles apply to joint ventures. The accounting treatment of joint ventures differs according to the magnitude of the venture. The point is that if the venture is of suffi- cient magnitude to warrant a distinct set of books being kept, no spe- cial book-keeping treatment is necessary. However, if the books of each participant record only such transactions as affect him directly, special treatment is necessary. In such cases the practice is for each party to open one account only, that account specifically relating to

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the venture; in that account are recorded all payments made and all sums received by the person in connection with the venture.

• European Economic Community (EEC)
• European Free Trade Association
• European Investment Bank (EIB)
• European Monetary System (EMS)
• European Parliament
• European Union (EU)
• euthanasia
• eviction
• evidence
• evidential burden
• ex abundante cautela
• examination in chief
• examination of witness
• examiner
• excepti doli
• excess
• excess de pouvoir
• exchange
• excise
• exclusion
• exclusionary rule
• exclusion clause
• exclusion order
• execution
• executor