A Floating Lien Cannot Apply to the Proceeds of a Sale

question 55

True/False

A floating lien cannot apply to the proceeds of a sale of after-acquired property.

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Definitions:

Foreign Exchange Reserves

Assets held on reserve by a central bank in foreign currencies, used to back liabilities and influence monetary policy.

Current Account

A component of a country's balance of payments that measures the trade in goods and services, plus net earnings on investments, and direct transfers.

Capital Account

Part of a country's balance of payments, recording the net change in asset ownership and investments.

Foreign Exchange Markets

Global decentralized or over-the-counter markets for trading currencies, determining the foreign exchange rates.