Which of the Following Is True of the Uniform Commercial

question 4

Multiple Choice

Which of the following is true of the Uniform Commercial Code (UCC) ?

• A)The UCC is an ordinance, but not a statute.
• B)Portions of the UCC adopted by states cannot be modified by those states.
• C)The UCC has not been enacted in all fifty states.
• D)Individual states may make changes to the portions of the UCC that they have adopted.

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Definitions:

Selling and Administrative Expense

The aggregate of all indirect costs associated with the selling of products and the general operations of a business.

Direct Materials

Raw materials that can be physically and directly associated with the manufacturing of finished goods.

Depreciation

The method of allocating the cost of a tangible asset over its useful life.

Office Equipment

Tangible assets used in an office such as computers, printers, and desks, essential for day-to-day operations.