An Electric Shaver That You Bought Exploded and Injured Your

question 11

Multiple Choice

An electric shaver that you bought exploded and injured your hand.You are now suing the manufacturer.The first document which your lawyer will send to the manufacturer is

• A)a writ of summons.
• B)the pleadings.
• C)a notice of trial.
• D)a statement of defence.
• E)a demand for particulars.

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Definitions:

Gross Margin

The difference between sales revenue and the cost of goods sold, expressed as a percentage of sales revenue.

Variable Cost

Charges that fluctuate in accordance with the degree of business operations or output levels.

Cost of Goods Sold

The immediate outlays necessary for the crafting of goods a business sells, involving materials and labor.

Variable Selling Expenses

Selling expenses that fluctuate with sales volume, such as commissions and shipping fees.