The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Question
Chapter 25, Problem 1CT
Summary Introduction
Case summary:In this case, a person M hired a fire safety consultancy OFP, owned by the person D for the disposal of insulation from his building. D and M's employees were aware of the fact that the insulation contains asbestos but they did not have a license for its removal. Ignoring this fact, they completed the work by dumping the hazardous substance at certain places which resulted in the cleaning cost of $50,000. The court convicted M for the violation of the Clean Air Act and he was sentenced an imprisonment for 120 months as well as fine.
To find:The results if M had the license for removing asbestos.
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SUBJECT -GENERAL ACCOUNT
A company has net sales of $125,000, cost of goods sold of $50,000,
operating expenses of $35,000, and selling expenses of $11,000.
What is the gross profit?
A. $75,000
B. $40,000
C. $29,000
D. $50,000
Chapter 25 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
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