What Is the Purpose of a Financing Statement

question 34

Multiple Choice

What is the purpose of a financing statement?

• A) to meet UCC accounting requirements under Article 9
• B) to create a security interest
• C) to amend a security agreement
• D) to alert third persons that a creditor has a security interest in the collateral described

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Definitions:

Greater Flexibility

An increased ability to adapt or respond to changing conditions or situations without significant loss of functionality or efficiency.

Employment Manual

A firm’s handbook or written statement that specifies the policies and procedures that govern the firm’s employees and employer-employee relationships.

Casual Dress Code

A relaxed and informal style of clothing allowed or prescribed in certain environments, emphasizing comfort and personal expression.

Support Staff

Employees who provide administrative or other types of support in workplaces, facilitating the main functions and services of an organization.