Which of the Following Is an Example of a Purchase

question 29

Multiple Choice

Which of the following is an example of a purchase money security interest in consumer goods?

• A)A doctor purchasing a computer on credit to create a Webpage to make services and information available to her patients
• B)A doctor purchasing on credit a blood glucose monitor to check his own blood sugar levels
• C)A doctor purchasing a TV/VCR unit on credit to place in her office waiting room
• D)A doctor purchasing an exercise bike for his employees to use over the lunch hour

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Definitions:

Limited Partner

An investor in a limited partnership who is not involved in daily business operations and whose liability is limited to the amount they invested in the partnership.

General Partners

Individuals who participate in the management of a partnership and have unlimited liability for its debts.

Securities Fraud

A type of serious white-collar crime that involves deceiving investors or manipulating financial markets.

Limited Partnership

A form of partnership consisting of at least one general partner, who manages the business and has unlimited liability, and one or more limited partners, who have limited liability.