A Bailment Implied by Law

question 43

Multiple Choice

A bailment implied by law

• A) is a result of an express agreement.
• B) must contain all the essential elements of a contract.
• C) occurs when you check a coat with a cloakroom attendant.
• D) occurs when you find a lost necklace.

---

Definitions:

Accounts Receivable

Funds owed to a company by customers for products or services that have been delivered or used but not yet paid for.

Equity Multiplier

This financial ratio measures a company’s total assets financed by stockholders, indicating the leverage level relative to equity.

Debt-Equity Ratio

A measure of a company's financial leverage, calculated by dividing total liabilities by shareholders' equity.

Return On Equity

An indicator of how effectively a company uses investor funds to produce profit growth, determined by dividing the net income by the equity of shareholders.