What Is the Purpose of a Financing Statement

question 34

Multiple Choice

What is the purpose of a financing statement?

• A) to meet UCC accounting requirements under Article 9
• B) to create a security interest
• C) to amend a security agreement
• D) to alert third persons that a creditor has a security interest in the collateral described

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Definitions:

Civic Reformers

Individuals or groups who advocate for political and social improvements within a community or society.

Effectiveness

The degree to which something achieves its intended outcome or results with a minimum amount of waste, expense, or unnecessary effort.

Haymarket Riot

A violent confrontation between police and labor protesters in Chicago in 1886, marking a significant moment in the labor movement in the United States.

Homestead Strike

An 1892 labor strike against the Carnegie Steel Company, notable for its violence and the use of strikebreakers and private security to suppress workers.