Inventory May Be Used as Collateral for a Loan

question 374

Multiple Choice

Inventory may be used as collateral for a loan. If it is, the inventory is classified as:

• A) intangible property
• B) tangible property
• C) intellectual property
• D) real property
• E) gross property

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Definitions:

Virginia Society

The social stratification and organization in the Colony of Virginia, characterized by a plantation economy that relied heavily on slavery.

Inheritable Slavery

A form of slavery where the status of a slave is passed down to their offspring, making the condition of slavery a permanent generational status.

Chesapeake Region

An area in the United States encompassing parts of Virginia and Maryland, known for its unique historical development and role in American colonial history.

Servitude

The state of being a slave or completely subject to someone more powerful.