Under the UCC, a Merchant Is Not One Who

question 292

Multiple Choice

Under the UCC, a merchant is not one who:

• A) uses an agent who holds herself out as having special knowledge about the goods sold
• B) has an Internet site that links to sellers of multiple goods
• C) regularly deals in goods of the kind involved in transactions
• D) presents himself as having skill specialized in the transactions
• E) all of the other choices are included in the definition of a merchant

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Definitions:

Variable Manufacturing Costs

Expenses that vary directly with the level of production, such as raw materials and labor.

Book Value

The net value of a company's assets, calculated by subtracting its liabilities from its total assets.

Market Value

The current price at which an asset or service can be bought or sold in the open market.

Salvage Value

The estimated value that an asset will realize upon its sale at the end of its useful life, after deducting the cost of removal or disposal.