Bailment Given as Security for the Payment of a Debt

question 9

Multiple Choice

Bailment given as security for the payment of a debt is a(n) : ______.

• A) pledge.
• B) contribution.
• C) guaranty.
• D) subrogration.

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Definitions:

Net Income

The profit of a company after all expenses and taxes have been deducted from revenue.

Accounting Break-even

The point at which total revenues exactly equal total explicit costs, leading to neither a profit nor a loss.

Project

A planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations, aiming to achieve a specific goal.