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aksik [14]
3 years ago
14

Modern Railways Co. operates a cargo railroad service between New York and Boston. A train owned by Modern Railways derails due

to a rare maintenance problem. The train collides with a delivery truck owned by CraftCo, shattering $100,000 worth of porcelain inside. If CraftCo sues Modern Railways Co. for negligence, CraftCo may be able to recover:
a. punitive damages.b. general damages.c. singular damages.d. special damages.
Business
1 answer:
Verizon [17]3 years ago
4 0

Answer: Special damages

Explanation: In simple words, special damages refers to the claim made by the injured person for the losses he or she suffered due to negligence of duty by the defendant.

In the given case, the train that is owned by the modern railways collided with a truck owned by craft co resulting in a loss of $100,000 of the former.

Hence if Craft co proves that the accident happened due to the negligence from the side of modern railways then they can claim special damages.

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The Karl DeLong Estate (with a taxable value of more than $16,500,000) includes the following assets:
ss7ja [257]

The best valuation technique to reduce the value of Karl's gross estate is C) Special use valuation on the CDs.

<h3>What is special use valuation?</h3>

Special use valuation is a valuation method that determines property value on the basis of its “current use” rather than its “highest and best use.”

Special use valuation is permitted by the Internal Revenue Code (IRC) Section 2032A.

However, the special use valuation method is for real estate and not CDs.

Thus, the best valuation technique to reduce the value of Karl's gross estate is C) Special use valuation on the CDs.

Learn more about the special use valuation method at brainly.com/question/3925584

4 0
2 years ago
When inventory costs are rising, a company may prefer to use the __________ method in the perpetual system in order to pay the l
mezya [45]

Answer:

LIFO (Last-in-last-out)

Explanation:

Last in last out is the method of inventory valuation where the unit that was added in inventory last would be sold first. In case, of rising prices, the unit added in inventory would cost more than the one added first. So, if LIFO is used in case of rising prices, cost of goods sold would be higher. If COGS is higher, income will fall, thereby reducing tax liability.

So, if the firm wants to pay lower taxes during price rise, it should opt for LIFO method to value inventory.

8 0
4 years ago
Brief Exercise 9-2 Paige Company estimates that unit sales will be 10,800 in quarter 1, 12,300 in quarter 2, 14,200 in quarter 3
iogann1982 [59]

Answer:

Quarter                      1                 2            3              4                  Total

Quantity               10,800        12,300     14,200       18,800

Price                   <u>  ×$85            ×$85         ×$85         × $85</u>

Total Sales($)    <u> 918,000   1,045,500  1207000   1,598,000</u>    4,768,500.

Explanation:

T<em>he sales budget is statement showing the expected future quantity to behold and the corresponding expected revenue. T</em><em>he expected revenue is determined by multiplying the selling price by the quantity</em>

Sales budget for Paige Company

Quarter                      1                 2            3              4                  Total

Quantity               10,800        12,300     14,200       18,800

Price                   <u>  ×$85            ×$85         ×$85         × $85</u>

Total Sales($)    <u> 918,000   1,045,500  1207000   1,598,000</u>    4,768,500.

<u />

5 0
3 years ago
Due to political instability in the country of East Gerdon, the strategic leaders at the headquarters of Mako Manufacturing have
masha68 [24]

Answer: Corporate

Explanation:

 The corporate level strategy is one of the business strategy which is used for maximizing the organization profitability by managing the status of the selling the products and the services in the market.

 This types of strategy also helps in maintaining the future financial status of the company and it also increase the competition in the market by selling the unique products and the services.

 According to the given scenario, the Mako's manager is using the corporate level strategy as the company decided to closing all the production due to the political instability in the market.  

 Therefore, Corporate level strategy is the correct answer.

3 0
3 years ago
An investment offers $5,800 per year, with the first payment occurring one year from now. The required return is 7 percent. a. W
algol13

Answer:

$61,445.20

Explanation:

we need to determine the present value of an annuity, and the simplest to determine this is by using annuity factors:

number of payments = 20

interest rate = 7%

annuity payment = $5,800

present value of the annuity = $5,800 x 10.594 (PV factor, 7%, n= 20) = $61,445.20

if we do not have an annuity table at hand (or in the internet), the formula used to calculate the annuity factor is:

annuity factor = [1 - 1/(1 + r)ⁿ] / r

4 0
3 years ago
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