Which of the flowing is not false about Joint venture firm?

A. A joint venture covers a long period whereas a partnership is established only for

specific purpose sought to be achieved in a short period.

B. Joint venture is less risky business and required small capital while partnerships have

high risky and demanded small capital.

C. Partnership is a temporary joint venture whereas joint venture is permanent venture.

D. Under small joint ventures, joint venture did not maintain books of accounts and each

venture required to record their own incomes and expenses.