Business Customs to Which Adaptation Is Helpful but Not Necessary

question 45

Multiple Choice

Business customs to which adaptation is helpful but not necessary are called _____.

• A) imperatives
• B) electives
• C) exclusives
• D) non-traditional
• E) standardized

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Definitions:

Security Interest

A legal claim or right granted by a borrower to a lender over the borrower's assets as collateral for the loan, ensuring repayment security.

Perfected

In legal and finance terms, a status indicating that an interest, often a security interest in property, is formally established and recognized.

Priority

Priority indicates the level of importance or precedence given to an issue, task, or project over others.

Security Interest

A legal claim or lien on assets, which secures the payment of a debt or performance of some other obligation by the property owner.