Which of the Following Is Correct About the Uniform Commercial

question 51

Multiple Choice

Which of the following is correct about the Uniform Commercial Code?

• A) Article 3 covers negotiable instruments; Article 4 covers bank deposits and collections.
• B) Article 2 covers negotiable instruments as well as bank deposits and collections.
• C) Article 4 and 4A are the only articles that affect the banking system.
• D) It does not apply to the banking collection and deposit process because negotiable instruments are not considered "goods."

---

Definitions:

Taking Possession

The act of acquiring ownership or control over an asset, property, or item.

Distribution Channel

A chain of businesses or intermediaries through which a good or service passes until it reaches the end customer.

Distribution Control

The process of overseeing and managing the movement of goods from the producer to the final consumer.

Financial Costs

The direct monetary expenses incurred by a company in producing, maintaining, and selling a product or service.