Identify Which of the Following Statements Is True About Secured

question 124

Multiple Choice

Identify which of the following statements is true about secured transactions in provinces having a personal property security act.

• A) Only tangible personal property can be used as security.
• B) All kinds of security arrangements involving personal property as collateral now come under one statute.
• C) Various kinds of secured transactions, such as conditional sales, chattel mortgages, etc., are regulated by their own distinct statutes.
• D) This kind of transaction, which formerly was legal, is now prohibited by law in all provinces.
• E) An assignment of an account receivable does not qualify as a security arrangement because no tangible property is involved.

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Definitions:

Personality

The unique combination of characteristics, behaviors, and emotional patterns that define an individual's distinctive nature.

Internal Locus

Refers to the belief that one has control over the events in their life through their own efforts, decisions, and actions.

Participative Management

A management approach that involves employees in decision-making processes, aiming to increase engagement, satisfaction, and sense of ownership.

Emotional Stability

A personality trait characterized by one's ability to remain calm and composed, especially in stressful situations.