Lord Brack has recently sold 90% of his company to the general public but he remains the CEO of the firm.Unfortunately,the Lord prefers to eat $1,000 lunches in the corporate dining room (for which he does not reimburse the company).What is Lord Brack's cost of these lunches?

Question

Quizplus · Accepted Answer

Since Lord Brack owns 10% of the company (after selling 90%), he effectively pays for 10% of the lunches himself through his ownership stake. Therefore, his cost is 10% of $1,000, which is $100.

Lord Brack Has Recently Sold 90% of His Company to the General