To Be Sufficient, a Financial Statement Must

question 45

Multiple Choice

To be sufficient, a financial statement must:

• A) indicate that the creditor is in possession of the collateral.
• B) be effective for a period of two years from the date of filing.
• C) be filed only in the state of the debtor's residence.
• D) indicate the collateral covered by the financing statement.

---

Definitions:

Good W

A hypothetical product or service used in economic examples or theories to discuss various economic principles.

Good Y

Typically used in economic models, it represents a generic secondary good in contrast to another good, often labeled as Good X.

Rationing Device

A mechanism used to distribute scarce goods and services among competing uses or users.

Supply Shifts

Changes in the supply curve caused by factors other than the product's price, such as production costs, technology, and expectations, leading to more or less of the product being supplied at each price.