Lenders Bank Files a Financing Statement Regarding a Transaction with Metro

question 16

Multiple Choice

Lenders Bank files a financing statement regarding a transaction with Metro Construction Company. To be valid, the financing statement must contain all of the following except​

• A) ​a description of the collateral.
• B) ​a statement of the purpose for the transaction.
• C) ​Lenders' name.
• D) ​Metro's name.

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Definitions:

Profit

Profit is the financial gain realized when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Product Promotion

Various marketing strategies and tactics used to increase awareness, interest, and sales of a product.

Monopolistically Competitive Industry

A commercial setup in which various enterprises market goods that are comparable, though not identical, granting them a measure of control within the marketplace.

Elasticity Of Demand

An indicator of the level of change in consumer demand for a product based on fluctuations in its price.