A company spills chemicals onto Russian land, causing damage that will cost $7million to clean. There is no environmental legislation but the companyy has clear green policies on its website. What are the effects of this on the Financial Statement of the company in the current year?

SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter7: Corporations: Reorganizations
Section: Chapter Questions
Problem 30P
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A company spills chemicals onto Russian land, causing damage that will cost $7million to clean. There is no environmental legislation but the companyy has clear green policies on its website.

What are the effects of this on the Financial Statement of the company in the current year?

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