Which of the Following Refers to the Resulting Assets from the Exchange

question 54

Multiple Choice

Which of the following refers to the resulting assets from the exchange or disposal of collateral subject to a security agreement?

• A)sale proceeds
• B)future advances
• C)floating lien
• D)after-acquired property

---

Definitions:

Gain

A financial increase or profit, particularly from the sale of investments or assets, not typically related to the entity’s primary operations.

Extraordinary Repair

A significant restoration or overhaul that extends an asset's useful life beyond its original forecast.

Gain

A gain refers to an increase in wealth or resources, typically measured in financial terms and often realized from the sale of an asset for more than its cost.

Accounting Rules

The formal guidelines and principles that govern financial accounting practices, ensuring accuracy and consistency in financial reporting.