Which of the Following Describes Involuntary Bailment

question 61

Multiple Choice

Which of the following describes involuntary bailment?

• A)Someone is forced to provide bail.
• B)The bailor sells the goods to compensate for storage costs.
• C)Goods have been left without permission.
• D)The borrower refuses to return goods.
• E)The bailee refuses to claim the stored goods.

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Definitions:

Net Sales

The amount of a company's gross sales minus its returns, allowances, and discounts.

Days' Sales in Inventory

A financial metric indicating the average number of days a company takes to sell its inventory.

Ending Inventory

The cumulative worth of merchandise ready for sale at the conclusion of a financial period.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor expenses.