Dependable Credit Corporation Asks Elevator Supply Company to Agree to a Security

question 63

Multiple Choice

Dependable Credit Corporation asks Elevator Supply Company to agree to a security agreement that provides for coverage of the proceeds from the sale of after-acquired prop?erty.This is

• A)a first-in,first-out rule.
• B)a floating lien.
• C)a funds guaranty.
• D)a future advance.

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Definitions:

Trade Balance

The difference between a country's exports and imports of goods and services.

Colonial Power

A country that establishes control over foreign territories to exploit them economically, politically, and culturally.

Manufactured Products

Goods that have been processed or transformed from raw materials into finished goods ready for sale.

Raw Materials

Basic materials extracted from the environment or that are used in the initial stages of production to make goods.