Identify which of the following statements is true.
A) Foreign-based company sales income is earned when personal property is purchased by a Country X controlled foreign corporation (CFC) from its U.S. parent corporation and is sold to unrelated persons in Country Z.
B) Section 482 permits the IRS to restructure transactions between related parties as if the transactions were conducted at arm's length.
C) One tax avoidance practice which Sec. 482 attempts to prevent is the transfer of tangible property to a foreign subsidiary at a price which is below the arm's-length price that would be used by unrelated parties.
D) All of the above are true.
D) All of the above are true.
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A company has cost of goods available for sale of $250,000, sales of $287,000, and a gross profit percentage of 30 percent. Using the gross profit method, what is the ending inventory?
a. $113,000 b. $50,000 c. $49,100 d. $163,900
Which of the following is one of the customer-driven approaches to improving productivity?
a. Ask customers not to use third parties. b. Limiting customer involvement in production. c. Changing the timing of customer demand. d. Reducing backstage elements of production. e. Reducing front-stage elements of production.
Dave's uncle tells Dave that if "he feels that Dave deserves it," he will give Dave $10,000 when Dave graduates from college. Dave's uncle's promise is
a. illusory. b. a contract. c. a forbearance. d. a preexisting duty.
Which of the following is a disadvantage of online retailing?
A. It is more expensive than on-ground retail. B. Online-only brands do not offer effective customer service. C. Consumers cannot exchange products once they are bought. D. Product deliverytakes at least a couple of days.