Question

Corona Company is owned equally by Maria, her sister Carlita, her mother, Gabriella, and her grandmother Olivia, each of whom hold 100 shares in the company. Under the family attribution rules, how many shares of Corona stock is Maria deemed to own

Answer 1

200 shares

Step-by-step explanation:

As per the family attribution rule Rule 318 the person is owner of his or her shares and deemed owner of the shares that their parent posseses. This means that Maria is treated as an owner of 100 shares she actually owns and the 100 shares that her mother owns, totalling it to 200 shares. The number of shares that her sister or grandmother owns is not included in the ownership as it is not as per the family attribution rule.