In 2017, Phoenix Corporation is a controlled foreign corporation (CFC) incorporated in Country X. It is 100% owned by its U.S. parent corporation. Phoenix has $80,000 of taxable income from the sale of widgets that were purchased from their U.S. parent corporation. All widgets are intended for use or consumption within Country X and have the same gross profit. Sixty percent of the widgets were
sold through a Country X wholesaler that is 100% owned by Phoenix, and 40% are sold through unrelated Country X wholesalers. What amount of profits will be constructively distributed as foreign-based company sales income to the U.S. parent company?
A) $0
B) $32,000
C) $48,000
D) $80,000
A) $0
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An explanation of ______ is each member is asked the same question in relation to a work issue and requested to write as many answers as possible. Answers are read aloud and recorded for discussion. Then, the ideas are put to the vote. No criticism or judgment of any ideas is allowed.
What will be an ideal response?
Diana and Aidan had lunch together in the conference room. They talked about their new coworker, Morgan, and discussed how she does not seem to have any experience or knowledge of the position. They criticized the company to each other for hiring Morgan. What kind of communication network does this describe?
a. upward communication b. downward communication c. horizontal communication d. informal communication
Which component of internal control relates to the policies and procedures that management establishes to address the risks that might prevent the organization from achieving its objectives?
A) Control activities B) Monitoring C) Risk assessment D) Information and communication
Chantell is the manager of the claims department for a large insurance company. She has a one-hour meeting with her staff to explain the new claim form which the company will use next month. This is an example of which type of organizational communication?
a. upward b. downward c. horizontal d. grapevine