Regarding Bailments, Which of the Following Is TRUE

question 52

Multiple Choice

Regarding bailments, which of the following is TRUE?

• A) Chequing accounts at the bank are a form of bailment.
• B) Trusts are bailments since there is a transfer of property.
• C) Bailments are not confined to personal property.
• D) Contents in a safety deposit box is a form of bailment.
• E) Articles held under bailment form assets available to creditors in bankruptcy.

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Definitions:

Certain Dollar Amount

A specific, predetermined monetary value used in financial transactions, budgets, or to set financial thresholds.

Benefits

Advantages or positive outcomes that contribute to the well-being or interest of individuals or organizations.

Critical-Incident Technique

A method used in management and psychology to analyze specific incidents that significantly contribute to an outcome, to understand better how to encourage positive or mitigate negative events.

Ineffective Job Behaviour

Actions or conduct by an employee that do not lead to the desired performance or outcomes in their role.