Which of the Following Is a Conditional Sale

question 71

Multiple Choice

Which of the following is a conditional sale?

• A) entrustment sale
• B) good faith sale
• C) a sale by a merchant to a buyer in the ordinary course of business.
• D) consignment
• E) bailment

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Definitions:

Residual Value

The anticipated worth of an asset upon reaching the conclusion of its serviceable period.

Accumulated Depreciation

Accumulated depreciation is the total amount of depreciation expense that has been recorded against a fixed asset over its useful life.

Straight-Line Depreciation

An approach to spreading out the expense of a tangible asset uniformly over the asset's operational life on a yearly basis.

Balance Sheet

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a particular time, listing assets, liabilities, and shareholders' equity.