A Case of Someone Finding and Taking Possession of Lost

question 19

Multiple Choice

A case of someone finding and taking possession of lost property is an example of:

• A)conversion of property.
• B)a mutual-benefit bailment.
• C)a bailment for the sole benefit of the bailee.
• D)a bailment for the sole benefit of the bailor.

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Definitions:

Budget Enforcement Act

Legislation intended to enforce strict budgetary controls on federal spending, aiming to reduce the fiscal deficit.

Budget Deficit

A budget deficit occurs when a government's expenditures exceed its revenues over a specified period, leading to borrowing or the use of saved reserves to meet the shortfall.

Government Budget Deficit

occurs when a government's expenditures exceed its revenues, leading to borrowing or debt accumulation.

U.S. Treasury

The government department responsible for managing federal finances, including issuing currency and managing public debt.