To Obtain Working Capital, Mining Company Puts Up All of Its

question 29

Multiple Choice

To obtain working capital, Mining Company puts up all of its equipment as security to borrow $100,000 from National Bank, which agrees to advance up to $100,000 more in the future. The bank properly perfects its security interest. To use the same collateral as security for a future advance, the bank must

• A)execute a new security agreement.
• B)re-perfect its security interest by possession.
• C)none of the choices.
• D)file a new financing statement.

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Definitions:

Extended Phenotype

Extended phenotype refers to the idea that the phenotype of an organism should not be limited to the biological processes occurring within the organism itself, but should also include the effects that the organism has on its environment, including other organisms.

Organism

A living entity that can grow, reproduce, metabolize, respond to stimuli, and maintain homeostasis.

Constructed Structure

Man-made buildings or edifices created for specific purposes, ranging from residential, commercial, to infrastructural uses.

Noticeable Effect

An observable or measurable impact resulting from a specific action or phenomenon.