A Company Wholly Owned or Controlled by Another Company Is

question 47

Multiple Choice

A company wholly owned or controlled by another company is known as an) :

• A)affiliate.
• B)corporation.
• C)limited liability company.
• D)subsidiary.
• E)closely held corporation.

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Definitions:

Dividends

Distributions from a company to its shareholders, derived from the company's earnings or accumulated savings.

Statutory Close Corporation Supplement

A legal provision or amendment that provides specific regulations and frameworks for closely held corporations.

Corporate Formalities

The procedures, rules, and policies that a corporation must follow to ensure legality and protect its shareholders.

Annual Meeting

A yearly gathering of the members or shareholders of an organization to discuss its performance, elect leadership, or make decisions on corporate issues.