What Is the Role of a Financing Statement in a Consignment

question 49

Multiple Choice

What is the role of a financing statement in a consignment if the consignor files it?

• A) It protects the consignor from bearing a risk of loss for the goods.
• B) It protects the consignor from possible payment revocation by the consignee.
• C) It gives the buyer's creditors claim over the goods.
• D) It gives the seller's creditors claim over the goods.

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Definitions:

Hours Per Day

A measure of time, typically referring to the number of hours allocated or spent on a particular activity within a 24-hour period.

Apiary

A location where beehives are kept for the production of honey.

Apple Orchard

A type of farm where apple trees are cultivated primarily for the production of apples.

Honey

A sweet, viscous food substance produced by bees and some other insects from the nectar of flowers.