The Property Subject to a Security Interest Is Called

question 6

Multiple Choice

The property subject to a security interest is called

• A)a fixture.
• B)collateral.
• C)consideration.
• D)an account.

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Definitions:

Accumulated Depreciation

Accumulated depreciation represents the total amount of depreciation expense that has been recorded for an asset since its acquisition.

Recognized Gain

The amount of profit that is reported for accounting or tax purposes, realized upon the sale or exchange of an asset.

Financing Charges

Costs associated with borrowing money, including interest, fees, and other charges.

EBIT

A financial metric representing a company's profit before deducting expenses for interest and income taxes.