If a Financing Statement in Movable Property Is Properly Filed

question 65

True/False

If a financing statement in movable property is properly filed and the debtor moves to another state,the security interest remains perfected if the financing statement is filed in the new state within four months of the move.

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Definitions:

Productive Asset

Assets that are used by a business to generate revenue, which can include physical property, equipment, and machinery, among other items.

Residual Value

The estimated amount that an asset is expected to realize upon the end of its useful life after all depreciation or amortization has been accounted for.

Market Value

The current price at which an asset or service can be bought or sold in the market.

Depreciation

Depreciation is the accounting process of allocating the cost of tangible assets over their useful lives, reflecting the loss of value as the asset is used.