Which of the following is not true about the UCC?
A) The UCC is a federal statute passed by Congress in 1953 that covers most aspects of
commercial transactions.
B) The UCC is continually being revised to reflect changes in modern commercial practices
and technology.
C) The UCC is divided into articles, with each article establishing uniform rules for a
particular facet of commerce in the United States.
D) The UCC is a model act that contains uniform rules that govern commercial transactions.
A
You might also like to view...
What is likely to result in employee resistance to change?
What will be an ideal response?
Limitations of ratio analysis include all but
A) Ratios depend on accounting data based on historical costs. B) Differences in accounting practices like FIFO versus LIFO make comparison difficult. C) Trend analysis could be distorted by financial statements affected by inflation. D) All of the above are limitations of ratio analysis.