Where Should the Bank Have Filed the Financing Statement

question 76

Multiple Choice

Where should the bank have filed the financing statement?

• A)The state in which Monte resides.
• B)The state in which the bank is headquartered.
• C)The state in which the branch where Monte took out his loan is located.
• D)Any state that accepts the UCC.
• E)The state in which the hang glider is registered.

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Definitions:

Utilization Rates

The ratio of actual time used to the potential time available for production, indicating the efficiency of resource use.

Managerial Accounting

A field of accounting focused on providing financial information within a company to assist in decision-making and strategy development.

Financial Accounting

The field of accounting concerned with the summary, analysis, and reporting of financial transactions pertaining to a business.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction.