A Bailment Differs from a Gift Because

question 23

Multiple Choice

A bailment differs from a gift because:

• A) a gift requires consideration, but a bailment does not.
• B) a gift requires delivery, but a bailment does not.
• C) in a bailment, only possession of the property is transferred to the bailee, whereas with a gift, both possession and ownership must pass to the donee.
• D) a gift is always a contract, but a bailment is generally not a contract.

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Definitions:

Break-even Analysis

A financial calculation that determines when a project, product, or business will be able to cover its costs and start generating profit.

Utility

In economics and business, the total satisfaction or benefit derived from consuming a good or service.

Bottom Line

The final line in the accounts of a company or organization, showing the net profit or loss after all expenses have been accounted for.

Effect Size

A quantitative measure of the magnitude of a phenomenon, used in statistics to assess the strength of a relationship or impact of an intervention.