Larry is the owner and founder of Manchester Limited. Larry's wife, Katie, has a controlling investment in Hudson Limited. Which of the following describes the relationship between Manchester Limited and Hudson Limited?
A) No disclosure about transactions with Hudson Limited is required in the financial statements of Manchester Limited.
B) Manchester Limited and Hudson Limited are not related parties.
C) Manchester Limited is a related party of Hudson Limited.
D) Manchester Limited has control over Hudson Limited.
Correct Answer:
Verified
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