Generally, How May a Security Interest Be Perfected in Collateral

question 55

Multiple Choice

Generally, how may a security interest be perfected in collateral?

• A)By the secured party's filing a financing statement in the designated public office.
• B)By the secured party's taking or retaining possession of the collateral.
• C)Automatically, on the attachment of the security interest.
• D)Temporarily, for a period specified by the Code
• E)All of the above, depending on the type of collateral.

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Definitions:

Parent Company

A company that holds a controlling interest in one or more other companies, referred to as subsidiaries, allowing it to control their operations and policies.

Investment Date

The specific date on which an investment is made or acquired by an investor, marking the commencement of recognition in financial statements.

Acquisition Date

The effective date on which control of a business or asset is obtained by the acquirer.

Declaration Date

The specific date on which a company announces a dividend or distribution to its shareholders.