Which of the Following Situations Involves a Bailment

question 17

Multiple Choice

Which of the following situations involves a bailment?

• A)The sale of a clock to a consumer.
• B)Bringing a computer in for repair
• C)Giving a parcel to a courier for delivery
• D)Both A and B
• E)Both B and C

Recognize the different types of cloud services (IaaS, PaaS, SaaS) and their applicability to various customer needs.

Distinguish between public, private, hybrid, and vertical cloud infrastructures.

Comprehend the requirements and challenges of managing large-scale IT infrastructures like server farms.

Identify the role and mechanism of web services in cloud computing.

---

Definitions:

LIFO

Last In, First Out, a method of inventory accounting where items produced last are considered the first to be sold.

FIFO

FIFO, or First-In, First-Out, is an inventory valuation method where goods first added to inventory are the first to be sold.

IFRS

International Financial Reporting Standards, a set of accounting standards that provide a global framework for how public companies prepare and disclose their financial statements.

Net Realizable Value

The estimated selling price in the ordinary course of business minus any costs necessary to make the sale.