Question
Glass, Inc., a corporation organized in UK, has 100 shares of common stock. The shares are voting shares. Ownership of Glass is as follows. Ben,
Glass, Inc., a corporation organized in UK, has 100 shares of common stock. The shares are voting shares. Ownership of Glass is as follows.
Ben, an Israeli individual, owns 20 shares
Sarah, a US person, owns 20 shares
Abigail, a US person, owns 30 shares
Helen, a US person, owns 30 shares
Is Glass a CFC? Who are the US shareholders?
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Managerial Accounting
Authors: Wendy M. Tietz, Louis Beaubien, Karen W. Braun
3rd Canadian edition
