In Which of the Following Independent Situations Would a Foreign

question 20

Multiple Choice

In which of the following independent situations would a foreign corporation be classified as a controlled foreign corporation?

• A)The stock is directly owned 12% by Jen, 10% by Kathy, 12% by Leslie, 10% by David, 8% by Ben, and 48% by Mike. Jen, Kathy, Leslie, David, and Ben are all U.S. citizens. Mike is a foreign resident and citizen.
• B)The stock is directly owned 12% by Jen, 10% by Kathy, 12% by Leslie, 10% by David, 8% by Ben, and 48% by Mike. Jen, Kathy, Leslie, David, and Ben are all U.S. citizens. David is married to Kathy. Mike is a foreign resident and citizen.
• C)The stock is directly owned 12% by Jen, 10% by Kathy, 12% by Leslie, 10% by David, 8% by Ben, and 48% by Mike. Jen, Kathy, Leslie, David, and Ben are all U.S. citizens. Ben is Mike's son. Mike is a foreign resident and citizen.
• D)The stock is directly owned 12% by Jen, 10% by Kathy, 12% by Leslie, 10% by David, 8% by Ben, and 48% by Mike. Jen, Kathy, Leslie, David, Ben, and Mike are all U.S. citizens.
• E)None of the above.

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Definitions:

Slave Culture

The distinct social, cultural, and familial practices developed by enslaved African Americans in the United States, forming communities and resilience within the oppressive framework of slavery.

African Heritage

The customs, traditions, and cultural influences tracing back to the African continent, preserved among people of African descent worldwide.

Folklore

The traditional beliefs, customs, stories, songs, and practices of a culture, passed through generations by word of mouth.

Religious Life

The aspect of an individual's or community's existence that pertains to their beliefs, practices, and organizational involvement in religion or spirituality.