Scenario B

question 18

Multiple Choice

Scenario B. Use the information given below to answer the questions that follow.
You and your classmates decide to form a management club at your university. The following are the steps that took place in the evolution of the club:
• Initially, the members meet to decide what you want to do in the club. Many great ideas are put forth and enthusiasm is high.
• A few meetings later, things are quite different. Individuals who had original ideas fight for their agenda and tempers flare. Some individuals are try to gain leadership positions in the club; the post is hotly contested for.
• After a few weeks of conflict, the members realize that if they don't work together, nothing will get done. The leadership roles have been decided now and group members begin to bond.
• By the end of the first semester, the group works in full swing. The projects are on track, members execute their assigned tasks, and the group feels a sense of achievement.
-In which stage of group formation is the management club initially?

• A) Declining
• B) Storming
• C) Forming
• D) Performing
• E) Norming

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Definitions:

Perfecting Security Interest

The legal process by which a secured party establishes a priority claim on a debtor's collateral in case of default.

Attachment

A legal procedure by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor or sold for benefit of the creditor.

Filing

The process of submitting documents to a designated body or authority (such as a court or public office) for official recording and recognition.

Continuation Statements

Documents filed to continue the effectiveness of a UCC financing statement beyond its original expiration date.