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Fleet, Incorporated owns 85% of the stock of Pete, Incorporated and 35% of the stock...

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Question

Accounting

Fleet, Incorporated owns 85% of the stock of Pete, Incorporated and 35% of the stock of Zete, Incorporated and 90% of the stock of Bete, Incorporated. Bete owns 5% of the stock of Pete and 5% of the stock of Zete. Zete owns 10% of the stock of Bete. The remaining stock of Pete and Zete is owned by unrelated individuals. Which of the following statements is correct?

Multiple Choice

a- Fleet and Pete are an affiliated group.

b- Fleet, Zete, Pete, and Bete are an affiliated group.

c- Fleet, Pete, and Bete are an affiliated group.

d- Fleet and Zete are an affiliated group.

Answer & Explanation Solved by verified expert
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