Once a Financing Statement Has Been Filed with the Correct

question 54

Multiple Choice

Once a financing statement has been filed with the correct agency,how long is the statement valid without renewal?

• A)180 days
• B)1 year
• C)3 years
• D)5 years
• E)7 years

---

Definitions:

Net Basis

A method of quoting or reporting prices without including the costs of taxes, delivery, and other ancillary charges.

Selling Entity

The business or individual that is transferring goods or services to a buyer in a transaction.

Performance Obligation

An agreement within a contract to deliver a product or service to a client.