The Uniform Commercial Code Contains a Statute of Frauds Rule

question 9

Multiple Choice

The Uniform Commercial Code contains a statute of frauds rule relating to sales of personal property, specifically:

• A) goods.
• B) chattel paper.
• C) real property.
• D) prenuptial agreements.

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Definitions:

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year, calculated by dividing current assets by current liabilities.

Stock Dividend

A payment made by a corporation to its shareholders in the form of additional shares, rather than cash.

Uncollectible Receivable

A debt owed to a company that is considered unlikely to be paid by the debtor, classified as a loss.

Working Capital

Current assets minus current liabilities, representing the short-term liquidity and operational efficiency of a business.