WorldCo, a Foreign Corporation Not Engaged in a U

question 111

Multiple Choice

WorldCo, a foreign corporation not engaged in a U.S. trade or business, receives $50,000 in interest income from deposits with the foreign branch of a U.S. bank. The U.S. bank earns 78% of its income from foreign sources. How much of WorldCo's interest income is U.S. source?

• A) $0
• B) $11,000
• C) $39,000
• D) $50,000

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Definitions:

Child Advocate

An individual acting to support, protect, and promote the rights and well-being of children, especially in legal or social service contexts.

Adjudication System

The organized set of procedures and personnel involved in adjudicating disputes or legal cases.

Mediation

Mediation is a conflict resolution process in which a neutral third party assists disputing parties in finding a mutually acceptable agreement.

Marital Disputes

Conflicts or disagreements that arise between spouses or partners in a marital relationship.