Which of the Following Is NOT Considered a Related Party

question 25

Multiple Choice

Which of the following is NOT considered a related party for the purpose of limitation on accruals to related parties?

• A) Spouse when the taxpayer is an individual.
• B) A partner when the taxpayer is a partnership.
• C) Brother when the taxpayer is an individual.
• D) A minority shareholder when the taxpayer is a corporation.
• E) All of the parties in all the choices are related parties.

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Definitions:

Operational Approach

A method of addressing problems or tasks focusing primarily on the practical and efficient achievement of objectives.

Management

The process of dealing with or controlling things or people, often within an organizational setting.

Henry L. Gantt

An American mechanical engineer and management consultant who developed the Gantt chart, a popular project management tool.

Human Factor

The consideration of the human element, including psychological, physical, and social aspects, in the design and operation of systems and services.