Ron Operates a Garbage Pickup Business

question 18

Multiple Choice

Ron operates a garbage pickup business.He contracts to pick up garbage from an apartment complex for the next 52 weeks at a price of $150 per week.Unexpectedly,the landfill center where Ron takes the garbage to dispose of it,files for bankruptcy.As a result,Ron must travel an additional 100 miles to the nearest landfill center,turning Ron's expected profit into a loss of $40 per week.Ron's best argument in support of his petition to be discharged from the contract is

• A)the mail box rule.
• B)commercial impracticability.
• C)frustration of purpose.
• D)true impossibility.

Explain the corporate management structure and shareholder rights and responsibilities.

Understand the concepts and legal structure of corporations, including the differences between types of corporations (C-corp, S-corp, nonprofit, etc.).

Comprehend the roles and liabilities of shareholders in various corporate structures.

Recognize the taxation implications for corporations and their shareholders.