To become a secured party, the creditor must gain a security interest in the collateral of the debtor. The secured party must take the following three steps to create a security interest: (1) The two parties create a security agreement and either (a) there is a record of the security agreement (usually a written agreement that describes the collateral and is signed by the debtor) or (b) the secured party is in possession of the collateral; (2) The secured party must give value to get the security agreement; and (3) The debtor has a right in or to the collateral.
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Surveys with no feedback or follow-up action tend to alienate employees, who feel they are just wasting their time.
Which of the following statements regarding the operating cycle of a merchandising company is not true?
A) The operating cycle begins with the purchase of merchandise. B) The operating cycle is shortened by credit sales. C) The operating cycle ends with the collection of cash from the sale of merchandise. D) The operating cycle can vary in length among different merchandising companies. E) The operating cycle sometimes involves accounts receivable.
A) has no opportunity costs. B) has benefits available to all,including nonpayers. C) produces no positive or negative externalities. D) is characterized by rivalry and excludability.
In which of the following situations has conversion NOT occurred?
A) When an instrument is paid on a forged indorsement. B) When a drawee to whom a draft is delivered for acceptance properly returns it upon request. C) When any person to whom an instrument is delivered for payment refuses on demand to pay or to return it. D) When a bank pays an instrument containing only one of two required indorsements.
When should you begin to gather information for your message?
A) When the first draft reveals weaknesses in your message B) After you have a clear understanding of the audience C) As soon as you determine the message is needed D) When it is determined the purpose is realistic E) During the writing phase of the three-step writing process