Which of the Following Is Not Necessary for Bailment

question 11

Multiple Choice

Which of the following is not necessary for bailment?

• A) personal property
• B) actual delivery of possession
• C) duty to return the property to the owner
• D) B and C
• E) A and B

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Definitions:

Accrued Salaries

Salaries that have been earned by employees but have not yet been paid or recorded in the company's accounts.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, presenting the financial results over a specific period.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.

Daily Wages

Compensation based on the number of days worked, typically paid to temporary or contract workers.