Which of the Following Statements Is True Regarding Conversion

question 18

Multiple Choice

Which of the following statements is true regarding conversion?

• A) It is virtually excluding the owner from the property and treating the property as if it belongs to the converter.
• B) It involves accidentally interfering with the possession and control of another's personal property.
• C) The trespass to personal property tort is less severe than conversion.
• D) Taking the property out of the owner or possessor's control is enough for the tort to be committed.

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Definitions:

GAAP

A set of widely adhered to accounting norms and guidelines for the preparation of financial statements.

Annual Depreciation Expense

The portion of the cost of a fixed asset that is expensed each year over its useful life, reflecting wear and tear, deterioration, or obsolescence.

Double Declining-Balance Depreciation

An accelerated depreciation method that double the rate of straight-line depreciation, decreasing the value of assets more quickly.

Accumulated Depreciation Balance

The total amount of depreciation that has been recorded against a fixed asset up to a specific point in time, reflecting the decline in the asset's value.