Which of the Following Is NOT Included in the Rules

question 53

Multiple Choice

Which of the following is NOT included in the rules of priority established by Article 9?

• A) A creditor with a perfected security interest has superior rights in the collateral over a creditor with an unperfected security interest
• B) Conflicting perfected security interests rank according to priority in time of filing or perfection
• C) As long as conflicting security interests are unperfected,the first to attach has priority
• D) Security interests are ranked in order by date of obligation (oldest debts have first priority. )

---

Definitions:

Shareholders

Shareholders are individuals or entities that own one or more shares of stock in a corporation, making them partial owners of that corporation.

Corporation

A legal entity that is separate and distinct from its owners, providing limited liability and the ability to raise capital.

AMT Income

AMT Income refers to the income calculation used to determine the Alternative Minimum Tax, designed to prevent high-income taxpayers from excessively reducing their tax liability through credits and deductions.

Phase Out

A gradual reduction of a tax credit or deduction as a taxpayer's income surpasses a designated threshold.