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If Joe holding 55% control interest on Joe company, Joe brother Jim holding 60% control interest in Jim corporation; which of the following Statement is

  1. If Joe holding 55% control interest on Joe company, Joe brother Jim holding 60% control interest in Jim corporation; which of the following Statement is correct?

a. Joe corp. and Jim corp. are associated corporations.

b. Joe corp. and Jim corp. are associated companies if either Joe or Jim own cross ownership more than 25% on either corp.

c. Joe corp. and Jim corp. are associated and connected corporations.

d. None of the above is correct

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