Which of the Following Is True of Perfecting Security Interests

question 39

Multiple Choice

Which of the following is true of perfecting security interests?

• A) A continuation statement may be filed within a year before the five-year expiration date.
• B) A financing statement is effective for a period of one year from the date of filing.
• C) Filing a financing statement in the appropriate public office is one of the least used ways of perfecting a security interest.
• D) Possession, a possible way of perfecting a security interest in inventory, is sometimes achieved through a field warehousing arrangement.

Recognize the role and types of audits conducted by the IRS.

Understand the concepts of tax-exempt and tax-deferred income.

Comprehend the taxation of foreign earned income and its exceptions.

Analyze the impact of tax laws on personal financial planning.

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Definitions:

Learned

Possessing knowledge or skill as a result of study, experience, or instruction.

Moneyed Interests

Parties or individuals with significant financial resources and the influence that comes with them.