Multiple Choice
William is the CEO of ABC Company.William is concerned about hazardous waste that ABC generates.He decides to set up a subsidiary called Sub It Out and send all of the hazardous waste there.He plans,however,to have officials of ABC supervise and direct disposal operations at Sub It Out because he believes that some money can be made off of the waste product.William tells the board of directors that if things go bad with the subsidiary,then ABC Company can disavow any interest and stay out of trouble.Is William correct?
A) William is correct so long as no director of ABC Company sits on the board of Sub It Out.
B) William is correct so long as the subsidiary is correctly set up under applicable tax laws.
C) William is correct so long as no director of ABC Company sits on the board of Sub It Out and so long as the subsidiary is correctly set up under applicable tax laws.
D) William is incorrect,and ABC is likely to have direct liability for any violations of Sub It Out based on ABC's direction of the subsidiary.
Correct Answer:
Verified
Correct Answer:
Verified
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