Which of the Following Is TRUE Regarding Bailments

question 56

Multiple Choice

Which of the following is TRUE regarding bailments?

• A) A change of ownership does not occur; the bailee is only putting his property in the bailor's custody.
• B) The courts want to keep contracts alive so they will often rescind a bailment.
• C) If Sally were suing her dry cleaners for the loss of her coat, Sally must prove that the dry cleaners were negligent.
• D) John put his house under the care of a neighbour until he returns from vacation. For John to take custody of it again is an example of a bailment.
• E) Under a bailment arrangement there can arise a time when the possessor can sell the goods against the owner's wishes.

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Definitions:

Environmental Management Accounting

The identification, collection, estimation, analysis, internal reporting, and use of materials and energy flow information, environmental cost information, and other cost information for both conventional and environmental decision-making within an organization.

Life Cycle Costing

An analysis method that considers all costs associated with the acquisition, use, maintenance, and disposal of an asset over its entire life.

Environmental Performance Measures

Indicators used to assess the impact of an organization's activities on the environment, including emissions, resource use, and waste management.

Relationship and Image

Aspects related to how an entity or individual is perceived in the market or by the public, and how they interact or relate with customers, partners, or other relevant entities.