The General Way of Perfecting a Security Interest Under Article

question 98

Multiple Choice

The general way of perfecting a security interest under Article 9 is to file a(n)

• A) artisan's lien.
• B) financing statement.
• C) deed of trust.
• D) warranty deed.
• E) creditor's instrument.

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Definitions:

Beginning Balance

The amount of money or value of an account at the start of a new accounting period.

Ending Balance

The final amount in an account at the end of a reporting period, after all additions and subtractions have been accounted for.

Revenue Account

An account that records the income earned by a company from its business activities.

Debit

A bookkeeping record that raises the value of an asset or expense, or reduces the value of a liability or equity.