Which of the Following Is True of a Bailment

question 88

Multiple Choice

Which of the following is true of a bailment?

• A) Only personal property can be used in a bailment.
• B) Intangible property cannot be used in a bailment.
• C) Only physical deliveries can become a bailment.
• D) All bailments must be expressed in writing to be effective.

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Definitions:

Direct Labor Wage Rate

The amount paid per hour or per unit of production to employees who directly manufacture or assemble products.

Raw Materials Cost

The total expense associated with the raw materials used in the production of goods or services.

Administrative Expense

Costs related to the general administration of a business, such as salaries of executive officers and costs of general services.

Estimated

An approximate calculation or judgment of a value, number, or quantity, based on limited information.