Which of the following statements pertain to a joint venture and not to a partnership business arrangement? I. It has a limited purpose II. It is a business relationship between several entities III. Involves the sharing of gross returns rather than profits IV. Each person or entity involved is liable only for an agreed-upon portion of the liabilities V. Allows for the right of each person or entity involved to dispose of any interest in the property subject to the agreement Il and III only I, II, II, IV and v I, II, IV and V only I and II only