A Typewriter,which Was Subject to a Prior UCC Security Interest,was

question 90

Multiple Choice

A typewriter,which was subject to a prior UCC security interest,was delivered to Ed Fogel for repair.Fogel,who is engaged in the business of repairing typewriters,repaired the typewriter.However,the owner of the typewriter now refuses to pay for the services performed by Fogel.The state in which Fogel operates his business has a statute,which gives Fogel a mechanic's lien on the typewriter.Fogel's mechanic's lien:

• A)takes priority over a prior perfected security interest under all circumstances.
• B)is subject to a prior perfected purchase money security interest under all circumstances.
• C)is subject to a prior unperfected security interest where the statute is silent as to priority.
• D)takes priority over a prior perfected security interest unless the statute expressly provides otherwise.

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Definitions:

Activity Rate

In cost accounting, it refers to the cost driver rate used in activity-based costing to allocate overhead costs to products or services based on their consumption of activities.

General Factory

Typically refers to a manufacturing site where various goods are produced through a combination of human labor, machines, and processes.

Activity Cost Pool

A collection of all costs associated with a specific activity or process, used in activity-based costing to allocate indirect costs to products or services.

Overhead

Overhead refers to the ongoing business expenses not directly attributed to creating a product or service, including costs like rent, utilities, and insurance.