Which of the Following Sales Would Be Covered by Article

question 39

Multiple Choice

Which of the following sales would be covered by Article 2 of the UCC?

• A)the sale of intangible goods
• B)the sale of tangible goods
• C)the sale of real estate
• D)the sale of stocks

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Definitions:

Organization Expense

Organization expense refers to the costs associated with forming a business entity, such as legal fees, filing fees, and costs of issuing stock.

Paid in Capital in Excess

Financial capital received from investors above the par value of the shares issued, also known as additional paid-in capital.

Common Stock

Equity ownership in a corporation, giving holders voting rights and a share in the company’s profits through dividends.

Par Value

The face value of a bond or stock as stated by the issuing company, which does not necessarily match its market value.