If the Collateral Is in the Possession of the Creditor

question 45

Multiple Choice

If the collateral is in the possession of the creditor: ______.

• A) a financing statement must be filed to perfect the interest.
• B) the security interest is perfected.
• C) only a security interest has been obtained.
• D) the type of goods will determine the method of perfection.

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Definitions:

Measure Actual Performance

Measuring actual performance involves assessing the real outputs or results of processes, individuals, or organizations against planned or expected outcomes.

Control Process

A systematic effort to set performance standards, measure actual performance, and take corrective action as necessary.

Establish Objectives

The act of identifying and setting specific goals or targets that an organization or individual aims to achieve.

Standards Of Performance

Benchmarks or metrics used to measure and evaluate the effectiveness, quality, or efficiency of an individual's or organization's output.