A Foreign Corporation Is Owned by Five Unrelated Individuals

question 64

Multiple Choice

A foreign corporation is owned by five unrelated individuals. John, Sam, and David are U.S. citizens who own 30%, 18% and 9%, respectively, of the foreign corporation's single class of stock. Alberto and Manuel are nonresident aliens who own 37% and 6%, respectively, of the foreign corporation's stock. Which of the following statements is true?

• A) There are two "U.S. shareholders" and the foreign corporation is not a controlled foreign corporation (CFC).
• B) There are three "U.S. shareholders" and the foreign corporation is not a controlled foreign corporation (CFC).
• C) There are two "U.S. shareholders" and the foreign corporation is a controlled foreign corporation (CFC).
• D) There are three "U.S. shareholders" and the foreign corporation is a controlled foreign corporation (CFC).

Understand the use of different Excel functions and formulae, including logical tests and the IF function.

Recognize and correctly use Excel comparison operators.

Comprehend the use and application of Excel charts for data visualization.

Navigate through Excel's interface, identifying specific features and tools such as the Zoom and Goal Seek functions.

---

Definitions:

Depression

In geology, a landform sunk below its surroundings, forming a low area which can be natural or man-made.

Valley

A low area between hills or mountains, typically with a river running through it.

Ridge

A long, narrow elevation of land, often formed by the continuous movement of the Earth's crust.

Ridges

Elevated geological features, typically linear, that can form through tectonic activities such as at mid-ocean ridges or due to erosional processes.