Identify Which of the Following Statements Is False

question 53

Multiple Choice

Identify which of the following statements is false.

• A)Askew Corporation has ten unrelated shareholders, each of whom owns 10% of the outstanding stock. This corporation is a personal holding company.
• B)Stock owned by an individual, in addition to stock attributed from her spouse, parents, children, and siblings, are all counted towards whether or not the personal holding company stock ownership test has been met.
• C)S corporations and tax-exempt organizations are excluded from the personal holding company (PHC)definition.
• D)A person who holds an option to acquire stock is considered to own the stock for purposes of the PHC stock requirements.

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Definitions:

Crime

A broad term for violations of law that are punishable by the state and are codified by legislatures. The objective of criminal law is to protect the public.

Public Prosecutor

A legal officer who represents the government in prosecuting criminal cases and is responsible for presenting the case against accused persons.

Trial Lawyer

An attorney who specializes in representing clients in legal proceedings before a court of law, particularly in trials.

Criminal Cases

Legal proceedings brought against an individual who is accused of committing a crime, aiming to determine their guilt or innocence.