Fact Pattern 18-2 General Leasing Company (GLC) Buys Equipment for Use as Inventory

question 47

Multiple Choice

Fact Pattern 18-2
General Leasing Company (GLC) buys equipment for use as inventory, borrow¬ing $1 million from Helpful Finance Corporation for a security in¬terest in the equipment. The next day, GLC borrows $513,000 from Interstate Bank, also for a security interest in the equipment. GLC defaults on the loans.
-Refer to Fact Pattern 18-2.Suppose that Helpful perfects its security interest when GLC takes possession of the equipment.In that circumstance,the party with priority to the collateral on GLC's default would be

• A)GLC.
• B)Helpful and Interstate proportionately.
• C)Helpful only.
• D)Interstate only.

Grasp the concept and emergence of virtual organizations.

Understand the relationship between organizational structure and business strategy.

Describe the technologies impacting organizational structure as identified by prominent researchers.

Differentiate between vertical specialization, chain of command, and span of control.

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Definitions:

Cranial Nerve

One of twelve pairs of nerves that originate in the brain and primarily serve the head and neck (except the vagus nerve which extends to the abdomen).

Optic Nerve

A cranial nerve that transmits visual information from the retina to the brain.

Choroid

A layer of the eye between the retina and the sclera, rich in blood vessels, supplying nutrients to the eye's inner parts.

Retina

The inner layer of the eye sensitive to light, where the conversion of light images to nerve signals that are sent to the brain occurs.