According to the UCC, a Computer Purchased by a CPA

question 26

True/False

According to the UCC, a computer purchased by a CPA for use in her office will be classified as inventory.

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Definitions:

Bailor

The party in a bailment contract who temporarily transfers possession but not ownership of a property or good to another party.

Bailee

A person or entity who is given temporary possession but not ownership of personal property by another for a specific purpose.

Insurer

A company that provides insurance policies to individuals or entities, offering financial protection against specified risks.

Common Carrier

A company or entity that provides transportation services to the general public under the regulation of government authorities.