Which of the Following May Not Be Used as Collateral

question 2

Multiple Choice

Which of the following may not be used as collateral within the scope of UCC Article 9?

• A) Certificates of deposit.
• B) Accounts receivable.
• C) Goodwill.
• D) A 250-acre farm.

Distinguish between temporary and permanent accounts.

Recognize the sequential steps in the accounting cycle.

Identify what is included in a post-closing trial balance.

Describe the role of an end-of-period spreadsheet in the accounting process.

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Definitions:

0.01

A numerical value representing one hundredth, often used in statistics, measurements, and as a decimal in mathematical calculations.

Product

The result of multiplying two numbers together.

Dividing

The act of separating or partitioning something into two or more parts or sections.

Cups

Commonly used household items that serve as containers for drinking liquids.