Which of the following methods of perfection should a bank use if it wishes to ensure it will not have to expend efforts in repossession?
A. Perfection by implication.
B. Perfection by possession.
C. Perfection by collateral in interest.
D. A bank cannot ensure it will not have to repossess the collateral.
E. Perfection by filing.
Answer: B
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When selecting between the best alternatives regarding an ethical dilemma in accounting all of the following should be considered except:
a. which alternative provides the most relevant information. b. which alternative provides the most accurate information. c. which alternative provides the most neutral information. d. which alternative provides the most profitable information.
The Unearned Fees account is classified as a(n)
a. liability. b. revenue. c. asset. d. expense.
Wenger (1998) argues there are three ways of managing boundaries in communities of practice: people, artifact, and interaction. Different people bound together because they identity themselves with a product – such as a surfer’s identify with a surfboard. This is an example of using ________ as a way of managing boundaries.
a. Artifacts b. People c. Interaction d. Interest
Jeremy is considering forms of business organization, including the limited liability company (LLC), for his concessions business-Kettle Popt-Korn. Most states require that an LLC have A) an alter ego, but no minimum number of participants
B) at least one member. C) at least two members D) at least one non-member manager.