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Earsplitting Music Inc. has acquired 60% of Raucous Sound, while Deafening Systems Corp. has purchased the remaining 40% of the company. The term joint venture

Earsplitting Music Inc. has acquired 60% of Raucous Sound, while Deafening Systems Corp. has purchased the remaining 40% of the company. The term joint venture applies even though two companies are purchasing another existing company. True False

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