Which of the Following Is True About Attachment and Perfection

question 109

Multiple Choice

Which of the following is true about attachment and perfection of security interests?

• A) A security interest may be either attached or perfected, but not both.
• B) A security interest must be perfected before it can attach.
• C) A security interest may be enforced by the creditor, even if it has not been perfected, so long as it has attached.
• D) Attachment generally gives the same rights to the secured party as perfection.
• E) Security interests in goods other than consumer goods are usually automatically perfected.

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Definitions:

Billing System

A combination of software and procedures that is used to issue and manage invoices and financial transactions for goods or services.

Cycle Billing

A system that sends invoices to groups of patients every few days, spreading the work of billing all patients over the month while billing each patient only once.

Patient

An individual who receives care or treatment from healthcare professionals, often within a clinical setting.

Emancipated

A legal status conferred upon minors whereby they assume autonomy for their personal and financial decisions prior to reaching the age of majority.