In order to qualify as a foreign sales corporation under U.S. tax law, the company must have management outside of the United States in one of the less developed countries approved by the Department of Treasury
Indicate whether the statement is true or false
False
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Martinez Corporation reported net sales of $765,000, net income of $142,000, and total assets of $7,634,409. The profit margin is:
A. 81.4%. B. 539.0%. C. 5.39%. D. 18.56%. E. 1.86%.
Involuntary dissolution of a corporation is usually caused by:
a. bankruptcy b. an act of Congress c. fraud in the establishment of the corporation d. bankruptcy or fraud in the establishment of the corporation e. bankruptcy or fraud in the establishment of the corporation or an act of Congress
The one who agreed to make a payment, such as a bank making a payment based on a document presented to it is:
a. the payee b. the beneficiary c. the drawer d. the drawee e. none of the other choices
In the context of the three ethical climates, identify a true statement about the trusteeship climate.
A. It reflects the most advanced level of moral development. B. An organization's focus is on self-gain and avoidance of punishment. C. It reflects preconventional morality. D. An organization behaves to conform to the expectations of others and to satisfy higher authorities.