A "U.S. shareholder" for purposes of CFC classification is any U.S. person who owns directly, indirectly, and constructively at least 50% of the voting power of a foreign corporation
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: A "U.S. shareholder" for purposes of CFC classification is any U.S. person who owns directly, indirectly or constructively at least 10% of the voting stock of a foreign corporation.
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A $6,700, 8.5% note is dated April 10 and is due in 75 days. The maturity value of the note would be
a. $6,800.00. b. $6,818.65. c. $7,500.00. d. $7,075.00.
Assume that a company recorded the following journal entry,Wages Expense4,200? Wages Payable?4,200Indicate whether each of the following statements is true or false with regards to the impact of this journal entry._____ a) Total claims stay the same_____ b) Total assets stay the same_____ c) Total liabilities decrease_____ d) Cash flows from operating activities increases_____ e) Stockholders' equity stays the same
What will be an ideal response?
The Financial Accounting Standards Board hopes to make the U.S. acounting practices:
a. more consistent with those of other nations b. better than those of other nations c. less consistent with those of other nations d. isnt concerned with how the U.S. accounting practices compare to other nations.
When the American company Exxon purchases crude oil from Saudi Arabia, it is engaging in
A. licensing. B. importing. C. free trade. D. exporting. E. dumping.