Personal Property Is Lost When an Owner Does Not Know

question 40

True/False

Personal property is lost when an owner does not know where it is located but intends to retain title or ownership to it.

---

Definitions:

Accounts Receivable Turnover

This is a financial ratio that measures how effectively a company collects debts from its credit customers, indicating the number of times average accounts receivable are collected during a period.

Sales In Receivables

Accounts receivable that result from sales transactions, indicating the amount of money customers owe a company.

Decimal Place

A position of a number to the right of the decimal point, indicating fractions of a base unit.

Percentages

A mathematical concept that represents a number or ratio as a fraction of 100.