The Payment of Eric's Debt to Ryan Is Guaranteed by Eric's

question 49

Multiple Choice

The payment of Eric's debt to Ryan is guaranteed by Eric's 2002 Volkswagen Bug.Ryan filed the financing statement on July 1,2012.If Ryan does nothing else,the financing statement will be effective until

• A)July 1,2013.
• B)July 1,2014.
• C)July 1,2017.
• D)July 1,2022.

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Definitions:

Trading Securities Portfolio

A collection of securities bought and held primarily for sale in the short term to generate income on short-term price differences.

Fair Value

The estimated price at which an asset can be bought or sold in an orderly transaction between market participants at the valuation date.

Unrealized Gain

An increase in the value of an asset that has not been sold, thus not yet generating actual profit.

Readily Marketable

Items or securities that are readily marketable can be quickly sold in the market without significantly affecting their price.