Which of the Following Is NOT True Regarding Methods of Perfection

question 11

Multiple Choice

Which of the following is NOT true regarding methods of perfection?

• A) A security interest in a deposit account may be perfected only by taking control of the collateral.
• B) A security interest in a letter-of-credit right may be perfected only by taking control of the collateral.
• C) A security interest in money may be perfected either through possession or through filing a financing statement.
• D) For a limited period,a purchase-money security interest in consumer goods is automatically perfected.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Price Elasticity

The responsiveness of the quantity demanded of a good to a change in its price.

Price Elasticity

An indicator of the degree to which the demand or supply of a product adjusts due to a variation in its cost.

Midpoint Formula

A method used in economics to calculate the elasticity of demand or supply between two points on a curve by averaging the quantities and prices.