1. Leftorium, Inc. is incorporated in State A and operates a retail store (selling goods for left-handed people) in State B. It sells gift cards in the State B store to customers who live in nearby State C. About 5% of the gift cards issued to State C residents are never claimed. This amounts to about $100,000 per year in unused gift card balances. Leftorium records a customer’s address when they buy a gift card. Historically, Leftorium would report and remit the value of the unclaimed gift cards to State C. Because of the cost, Leftorium’s CEO lobbied the State C legislature to change the law and stop requiring unused gift cards to be classified as unclaimed property. State C obliged and changed the law. 
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3. Assuming the gift cards remain unclaimed by the customers, has Leftorium in fact saved $100,000 per year? Why or why not?

Answer rating: 100% (QA)

No Left or ium has not saved 100 000 per year by changin... View the full answer