Which of the following is true about security agreements and financing statements?
A) Both must exist in order for a security interest to attach.
B) These are two terms for essentially the same document.
C) The financing statement gives constructive notice to the world of the existence of the
related security agreement.
D) Both must be filed in order to perfect a security agreement.
E) The security agreement is unenforceable until a financing statement has been filed.
C
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Lower-of-cost-or-market
a. is most conservative if applied to the total inventory. b. is most conservative if applied to major categories of inventory. c. is most conservative if applied to individual items of inventory. d. must be applied to major categories for taxes.
When the value of the British pound changes from $1.50 to $1.25, the pound has ________ and the dollar has ________
A) appreciated; appreciated B) depreciated; appreciated C) appreciated; depreciated D) depreciated; depreciated