Operating Assets with No Physical Properties Are Called

question 57

Multiple Choice

Operating assets with no physical properties are called

• A)current assets.
• B)intangible assets.
• C)plant assets.
• D)property,plant,and equipment.

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Definitions:

Warehousemen's Liens

Legal claims that a warehouse operator can place on goods stored in their facility for unpaid storage fees or services.

UCC

Short for Uniform Commercial Code, it is a comprehensive set of laws governing all commercial transactions in the United States.

Carriers' Liens

Legal claims that allow carriers (e.g., transportation or shipping companies) to retain possession of goods until the transportation charges are paid by the consignor or consignee.

Right of Redemption

The legal right of a debtor, particularly a mortgagor, to reclaim their property by paying the debt, usually after a foreclosure.