Shazad Is the Manager of a Bookstore That Is One

question 3

Essay

Shazad is the manager of a bookstore that is one of a chain owned by Tebsco Markets Inc.Shazad advertised a special low price for Harry Potter books as a way of getting people to come to the store.Shazad knew at the time that he had no Harry Potter books.Advertising in this manner is an offence under the Competition Act.Shazad was convicted,and Tebsco was too on the basis that Shazad was a senior officer of the corporation in relation to its operation of his bookstore.Is there anything that Tebsco could do to avoid this liability in the future?

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Definitions:

Fully Depreciated

Term used for an asset that has reached the end of its useful life, with its cost fully allocated across the accounting periods it was in use.

Disposed

This term refers to the action of getting rid of an asset or property, often through a sale, exchange, retirement, or destruction.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets, reflecting the company's reputation, customer relations, and other non-physical assets.

Assets And Liabilities

Elements of a company's financial statements where assets represent resources owned, and liabilities represent obligations owed to others.