What Are the Characteristics of High-Quality Information

question 62

Essay

What are the characteristics of high-quality information?

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Definitions:

Financing Statement

A document filed to give public notice that a lender has a security interest in a debtor's personal property, used in secured transactions.

Termination Statement

An amendment to a financing statement, which states that the debtor has no obligation to the secured party.

Secured Party

A creditor or lender that has an interest, typically in the form of a lien, in the collateral offered by the debtor to secure a loan or obligation.

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower defaults.