Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1. Which of the given elements should exist for there to be valid, enforceable security agreement?

a. A written security agreement.
b. The creditor must give value to the debtor.
c. The debtor must have an interest in the collateral.
d. A, B, and C.
e. B and C only.

2. Article 9 of UCC doesn't cover security interest in following:

a. Land.
b. Inventory.
c. Equipment.
d. Patents and copyrights.

3. In order for security interest to give secured party protection against claims of other creditors of debtor, security interest should:

a. Terminate debtor's interest.
b. Attach to the subject matter.
c. Become perfected.
d. Entitle the creditor to possession.

4. Which of the given is true about security agreements and financing statements?

a. These are two terms for essentially the same document.
b. Both should be filed in order to perfect a security agreement.
c. Both should exist in order for a security interest to attach.
d. The financing statement gives constructive notice to the world of the existence of the related security agreement.
e. The security agreement is unenforceable until a financing statement has been filed.

5. Which of the given items doesn't need to be included in financing statement?

a. The debtor's name.
b. The debtor's mailing address.
c. The secured party's name.
d. A description of the collateral.
e. What constitutes a default in the underlying loan agreement?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M920398

Have any Question? 


Related Questions in Accounting Basics

To write discussion post to given answerrequirementsdo not

To write discussion post to given answer Requirements: Do not use any direct quotes and/or cut and pasted information (i.e. your discussion is to be 100% your thoughts, ideals and insights). You can agree or disagree wit ...

The purpose of an assignment is to ensure that the learner

The purpose of an assignment is to ensure that the Learner is able to: - Demonstrate an understanding of accounting principles. - Systematically record the financial aspects of business transactions. - Prepare financial ...

Task1 create journal entries for the following

Task: 1. Create journal entries for the following transactions. 2. Draw up a T-accounts for each account affected by transactions. 3. Calculate ending balances for all T-accounts. Transactions: March, 1: Student Corp. re ...

Please answer the following question analysis needed with

Please answer the following question. Analysis needed with explanation. Use in-text citation and reference page if necessary in APA format. Answers should be must be plagiarism free. Zaldor Corporation sells a specialize ...

Assignmentapplication implementation of the balanced

Assignment Application: Implementation of the Balanced Scorecard APA Format Implementation of the Balanced Scorecard The term "balanced scorecard" became part of the professional accounting vernacular in the early 1990s. ...

Flint hills companys most recent financial statements

Flint Hills Company's most recent financial statements showed dismal performance. There was a net loss of $10,000 and the Statement of Cash Flows showed a net cash decrease in all categories. The company president called ...

If a nurse deposits 12000 today in a real estate investment

If a nurse deposits $12,000 today in a real estate investment trust (REIT) and the interest is compounded annually at 7% percent, what will be the value of this investment: a.) Five years from now? b.) Ten years from now ...

Cost accounting systemsconsider the places of employment of

Cost Accounting Systems Consider the places of employment of the team members or businesses with which the team is familiar and the industries in which they operate. Create a 12-slide presentation, including detailed spe ...

Careers in accountingaccounting is the study of how

Careers in Accounting Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities in addition to preparing financial statements and recording busi ...

Question 1grammys bakery had the following information for

Question 1 Grammy's Bakery had the following information for the pay period ending June 30: Employee Name Pay Rate Hours Worked Cumulative Earnings Department Federal Income Tax Withheld P. Ganster $2,000 Salaried $12,00 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro