According to the UCC,which of the Following Should a Financing

question 6

Multiple Choice

According to the UCC,which of the following should a financing statement list?

• A)Two items: 1)the names and addresses of all the parties involved and 2)a description of the collateral.
• B)Three items: 1)the names and addresses of all the parties involved,2)a description of the collateral,and 3)the signature of the debtor.
• C)Three items: 1)the name of the financing bank,2)the name of the debtor,and 3)a description of the collateral.
• D)The names and addresses of all parties involved only.
• E)Three items: 1)the name of the financing bank,2)the signature of the debtor,and 3)a description of the collateral.

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Definitions:

Discretionary Fixed Costs

Those fixed costs that arise from annual decisions by management to spend on certain fixed cost items, such as advertising and research.

Committed Fixed Costs

Expenses that a company has to pay regardless of its level of production or sales, such as leases and long-term contracts, which cannot be easily changed in the short term.

Unit Fixed Cost

The fixed cost associated with producing one unit of a product, which does not vary with the level of production output.

Total Fixed Cost

The sum of all expenses that remain constant regardless of the level of production or sales activities, such as rent, salaries, and insurance premiums.