Brass & Woodwind Instruments, Inc, allows Clifton to keep a professional clarinet that he bought from Brass & Woodwind even though he has not paid the full price. Brass & Woodwind's legally sufficient financing statement in the goods need not include
A) a description of the collateral
B) a statement of the reason for allowing Clifton to take the goods.
C) Brass & Woodwind's name.
D) Clifton's name.
B
You might also like to view...
The best way to obtain documentary evidence is:
a. by chance, accident or tip discovery. b. through computer-based queries of full-population accounting and other databases. c. through interviews and interrogations. d. through traditional audits like discovery sampling.
Expenses that support the overall operations of a business and include the expenses relating to accounting, human resource management, and financial management are called:
A. General and administrative expenses. B. Cost of goods sold. C. Purchasing expenses. D. Non-operating activities. E. Selling expenses.
A construct is an unobservable and abstract concept.
Answer the following statement true (T) or false (F)
Define the term "contingent liability" and discuss the criteria used to classify these events or conditions. Provide some examples of contingent liabilities.
What will be an ideal response?