Which of the Following Regarding Merchants and the UCC Is

question 13

Multiple Choice

Which of the following regarding merchants and the UCC is false?

• A)The UCC defines merchant on a case-by-case basis.
• B)A person is a merchant if he employs an agent,even if the agent does not have special knowledge and does not regularly deal in the kind of goods being sold.
• C)A person is a merchant if he regularly deals in the kind of goods being sold.
• D)A person is a merchant if he purports to have special knowledge about the goods.

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Definitions:

Tax Return Lines

Specific lines on a tax return document where taxpayers report information or figures as required by tax regulations.

Detailed Reports

Comprehensive documents that provide an in-depth analysis or summary of data related to a specific topic or period.

Tailor

A tailor is a skilled craftsperson who makes, repairs, or alters clothing professionally, often creating garments to fit individual customers uniquely.

Permanent Accounts

Financial statement accounts whose balances are carried over into the next accounting period.