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On January 1,20X8,Putter Corporation acquired 40 percent of the voting shares of Shank Company for $65,000.Shank reported net income of $45,000 and paid dividends of $10,000 in 20X8.Putter reported operating income of $50,000 for the year.There is 80 percent exemption of intercompany dividends and the effective tax rate is 35 percent.Assume that the equity method is being used.
-For a subsidiary to be eligible to be included in a consolidated tax return,at least ________ of its stock must be held by the parent company or another company included in the consolidated return.
Productive Integration
refers to the effective assimilation and utilization of resources, systems, or workers within an organization or economy to maximize productivity.
Sourcing
The process of finding and selecting suppliers or sources from which goods and services are obtained.
Public Relations Office
An office or department within an organization responsible for managing and guiding the public image and communications of the organization.
Media Regulation
The control or guidance of mass media by governments and other bodies to ensure compliance with laws, standards, and policies, often to protect public interest.
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