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23 May, 19:02

Ajak Corporation owns 85% of the single class of Utech Corporation stock. Utech Corporation owns 35% of Tech Corporation. Ajak Corporation also owns 50% of Tech Corporation, and Tech Corporation owns 75% of Baxter Corporation.

A.

Ajak, Tech, Utech, and Baxter Corporations are an affiliated group.

B.

Ajak, Tech, and Baxter Corporations are an affiliated group.

C.

Ajak, Tech, and Utech Corporations are an affiliated group.

D.

None of the above are correct.

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Answers (1)
  1. 23 May, 19:03
    0
    C.) Ajak, Tech, and Utech Corporations are an affiliated group.

    Explanation:

    An affiliated group refers to two or more separate corporations that have some type of common ownership relationship between them, but do not file consolidated financial statements, and therefore are considered separate entities for tax purposes.

    To be considered an affiliated group, the parent company must own at least 80% of another corporation. Baxter corporation is excluded because Tech only owns 75% of it.
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Home » Business » Ajak Corporation owns 85% of the single class of Utech Corporation stock. Utech Corporation owns 35% of Tech Corporation. Ajak Corporation also owns 50% of Tech Corporation, and Tech Corporation owns 75% of Baxter Corporation. A.
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