Identify Which of the Following Statements Is True About Secured

question 14

Multiple Choice

Identify which of the following statements is true about secured transactions in provinces having a personal property security act.

• A)All kinds of security arrangements involving personal property as collateral now come under one statute.
• B)Only tangible personal property can be used as security.
• C)An assignment of an account receivable does not qualify as a security arrangement because no tangible property is involved.
• D)Various kinds of secured transactions,such as conditional sales,chattel mortgages,etc.,are regulated by their own distinct statutes.
• E)This kind of transaction,which formerly was legal,is now prohibited by law in all provinces.

---

Definitions:

Entrepreneurs Start

The initial phase in which an entrepreneur identifies an opportunity, gathers resources, and launches a new business or venture.

Lean Start-ups

A methodology for developing businesses and products that emphasizes rapid prototyping, a focus on customer feedback, and iterative design, to reduce market risks and costs.

Cost-intensive Organizations

Businesses or entities that require substantial financial investment in resources, technology, or labor to operate effectively.

Franchise Parent

The original or main company that owns the rights to a franchise and grants licenses to franchisees to operate under its brand.