Which of the Following Is Not a Financial Asset

question 1

Multiple Choice

Which of the following is not a financial asset?

• A)common stock
• B)bank loans
• C)preferred stock
• D)buildings

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Definitions:

Safe Product

A product that has been designed and manufactured to minimize any risks of harm or injury to users.

UCC

Short for the Uniform Commercial Code, it is a comprehensive set of laws governing all commercial transactions in the United States.

Express and Implied Warranty

Guarantees that a seller makes about the condition, functionality, or performance of goods or services; express warranty being explicitly stated and implied warranty being presumed by law.

Time Limitation

A statutory period within which a lawsuit must be filed or a specific legal action must be taken; failing to act within this period can result in losing the right to claim.