Difference between Joint venture & Partnership

• In  the joint venture, the business is carried on without using a firm name & in partnership, the business is carried on under a firm name.
• In the Joint venture, the business transactions are recorded under cash system & in the partnership, the business transactions are recorded under mercantile system.
• In the joint venture Profit & loss is ascertained on completion of the venture, while in the partnership, Profit & loss is ascertained at the end of the each year.
• In the Joint venture, it is confined to a particular operation & it is temporary. While in the partnership, it is confined to a particular operation & it is permanent.