What Is the Definition of "Goods" Under Article 2 of the UCC

question 3

Multiple Choice

What is the definition of "goods" under Article 2 of the UCC?

• A) "Goods" are defined as tangible things that are movable at the time of their identification to the contract.
• B) "Goods" are defined as intangible things that are movable at the time of their identification to the contract.
• C) "Goods" are defined as tangible things that are immovable at the time of their identification to the contract.
• D) "Goods" are defined as fixtures.
• E) "Goods" are defined as intangible things that are immovable at the time of their identification to the contract.

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the accounts.

Ledger

A comprehensive collection of all accounts and transactions of a company or individual, recorded in a systematic manner.

Account Balance

The amount of money in a financial repository at any given moment, which can fluctuate with deposits, withdrawals, and interest payments.

Chart of Accounts

An organized list of all the different financial accounts used by an entity to categorize transactions.