Which of the Following Is True About Termination Statements

question 79

Multiple Choice

Which of the following is true about termination statements?

• A) It is generally the responsibility of the debtor to file the termination statement.
• B) It is generally the responsibility of the secured party to file the termination statement.
• C) The debtor and creditor have joint responsibility to file the termination statement, since it must be signed by each.
• D) The obligation to file a termination statement arises only upon a debtor's request that one be filed.
• E) Termination statements must only be filed if the debtor defaulted before the due date.

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Definitions:

Ultimate Goal

The primary aim or final objective intended to be achieved in any given endeavor or system.

Consequentialists

Ethical theory that judges an action's morality based on its outcomes or consequences.

Criticized Aspect

A feature or part of something that is singled out as problematic and subject to judgment or disapproval.

Doctrine

A set of beliefs or teachings that are held and promoted by a religious, political, social, or other group.