Asked by Farid Habibi on Jul 09, 2024
Verified
Which of the following are examples of collateral?
A) Goods and indispensable paper
B) Goods and intangibles
C) Goods and proceeds
D) Goods,indispensable paper,and proceeds
E) Goods,indispensable paper,intangibles,and proceeds
Collateral
Assets pledged by a borrower to secure credit or a loan, which can be seized in case of default.
Intangibles
Intangibles refer to non-physical assets that have value, such as intellectual property, goodwill, and brand recognition.
Proceeds
The amount of money obtained from an event or transaction, such as the sale of goods or property.
- Identify the responsibilities and definitions tied to collateral, security interests, and secured parties.
Verified Answer
SB
Shelby BrysonJul 11, 2024
Final Answer :
E
Explanation :
Collateral is the property that is subject to the security interest.Collateral may include goods,indispensable paper,intangibles,and proceeds.
Learning Objectives
- Identify the responsibilities and definitions tied to collateral, security interests, and secured parties.
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