Which of the following interests in real property transfers to another person after the present holder's death?

Bank of America loans Tina $50,000 to buy a new Honda Accord. The loan documents (security agreement) identify the Honda Accord as collateral. Bank of America is which of the following?

A. Secured creditor B. Unsecured creditor C. Materialman D. Borrower

In testing for cutoff, the objective is to determine

A) whether all of the current period's transactions are recorded. B) whether transactions are recorded in the correct accounting period. C) the proper cutoff between capitalizing and expensing expenditures. D) the proper cutoff between disclosing items in footnotes or in account balances.