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Case summary: Company TGS conducted an aerial geo-physical survey of eastern Canada for more than 15,000 square miles. There was a concentration of commercially exploited minerals which was indicated because of the operation. A hole was drilled by TGS to yield the core with an exceedingly high content of minerals. The result of the survey was not made public. The employees purchased the stock of TGS after knowing about the samples. The price of stock TGS rose, after the survey report was published in the newspaper. SEC filed a case against the organization’s employees for insider trading. The employees claimed that the information on the basis of which they traded is not a material.
To explain: The liability of company, if enough ore was not found after drilling of the area.
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Chapter 28 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
- The company's gross marginarrow_forwardits Elite Brands Company uses standard costs for manufacturing division. Standards specify 0.1 direct labor hours per unit of product. At the beginning of the year, the static budget for variable overhead costs included the following data: Production volume 6,500 units 600 hours Budgeted variable overhead costs $15,000 Budgeted direct labor hours At the end of the year, actual data were as follows: Production volume 4,000 units 495 hours Actual variable overhead costs $15,400 Actual direct labor hours How much is the standard cost per direct labor hour for variable overhead? a. $25.00 per direct labor hour b. $37.50 per direct labor hour c. $30.30 per direct labor hour d. $25.67 per direct labor hourarrow_forwardPlease give me correct answer this general accounting questionarrow_forward
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
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