Acme Corp Owns an Expensive Widget

question 66

Multiple Choice

Acme Corp owns an expensive widget. Which of the following statements is TRUE?

• A) If Acme Corp intentionally abandons the widget, you will be entitled to keep it for yourself only if you take possession of it without actual knowledge that it had been abandoned.
• B) If you take the widget in the reasonable belief that it belongs to you, Acme Corp will not be able to sue you for the tort of conversion.
• C) If Acme Corp loses the widget, and you find it but are unable to determine its true owner, you will be able to sue me for the tort of conversion if I forcibly take it from you.
• D) If a thief steals the widget and sells it to you, Acme Corp can sue you for the tort of conversion, unless you acted honestly.
• E) If Acme Corp created the widget, then the widget will not have an owner unless and until someone buys it from the company.

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Definitions:

Year 2

This typically refers to the second year in a multi-year financial analysis or projection.

Average Collection Period

The average number of days it takes for a business to receive payments owed by its customers, indicating the efficiency of the company's credit and collection policies.

Year 2

A term referring to the second year of a particular time frame, often used in financial and performance analysis.

Acid-Test Ratio

A financial metric used to determine a company's short-term liquidity position by comparing its most liquid assets (excluding inventories) to its current liabilities.