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:

Unique Business Rules

Specific guidelines and constraints defined within a business framework that govern operations and processes to ensure unique, consistent, and standardized practices.

Function Procedure

A routine or set of instructions in programming that performs a specific task and can return a value to the calling program.

Syntax

The set of rules that defines the combinations of symbols that are considered to be a correctly structured document or fragment in a programming language.

VBA Statement

A line of code written in Visual Basic for Applications, a programming language used within Microsoft Office applications, to execute a specific function or operation.