1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Shtirlitz [24]
3 years ago
5

Overextended Debtor. Dennis purchased a big screen television from ABC Electronics and financed the purchase through ABC Electro

nics based on an agreement granting ABC Electronics a security interest in the television and requiring that Dennis make monthly payments. Three months later, because Dennis had bought a boat, a new car, and an expensive engagement ring for his girlfriend, and some other items, he was unable to continue making payments on the television. The manager from ABC Electronics called and asked Dennis to return the television. Dennis refused on the basis that ABC Electronics never perfected its interest in the television. Which of the following is the proper designation under the UCC for the television?
A. Pledged goods.
B. Acknowledged goods.
C. Illegal security.
E. Defined security.
F. Collateral.
Business
1 answer:
kap26 [50]3 years ago
7 0

Answer: (F) Collateral

Explanation:

  According to the given question, Collateral is referred to proper designation under UCC in which the Dennis refused to return television to the ABC electronics company.

The term Collateral is referring as assets such as television that is typically used to secure the loan as it provides a low internet rate and due to collateral they also makes the duration of the loan length.

Television is represented as collateral so ABC company cannot perfect its interest so due to this reason Dennis refuses to return television to the company. Collateral is known as the secured loan and it is used by the following ways:

  • Purchasing personal assets
  • Vehicles
  • Investment purpose
  • Paychecks

  Therefore, Option (F) is correct answer.

You might be interested in
A one-year membership to a gym costs $725 total. the registration fee is $125 of the total, and the remaining amount is paid mon
FinnZ [79.3K]
The first thing to do is to subtract the registration fee from the total

725-125=600

then divide the remaining number by 12 because it is monthly 

600/12=50

new members will pay $50 each month

I hope I've helped!
6 0
3 years ago
The welding department supplies parts to the final assembly line. Management decides to implement a kanban system and has collec
Hatshy [7]

Answer: 45 containers

Explanation:

The number of containers needed is calculated by:

= (Expected demand during Lead time + Safety Stock) / Container Capacity

Expected demand during Lead time = Daily demand * Lead time

= 2,500 * 3

= 7,500 units

Safety stock = 1.5 days * 2,500

= 3,750 units

Number of containers needed:

= (7,500 + 3,750) / 250

= 45 containers

8 0
2 years ago
Lumpkin Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purc
KATRIN_1 [288]

Answer:

<u>February.</u>

Desired ending inventory = 10% of March Cost of goods(COGS):

= 10% * 35,000

= $3,500

Inventory needed = COGS + ending inventory

= 32,000 + 3,500

= $35,500

Beginning inventory = January ending inventory = $3,200

Required Purchases = Inventory needed - Beginning inventory

= 35,500 - 3,200

= $32,300

<u>March</u>

Desired ending inventory = 10% of April COGS:

= 10% * 40,000

= $4,000

Inventory needed:

= 35,000 + 4,000

= $39,000

Beginning inventory = February ending inventory = $3,500

Required purchases:

= 39,000 - 3,500

= $35,500

8 0
2 years ago
If the par value of a stock is $5 and the offering price of the stock is $2, the capital in excess of par is:
mr_godi [17]
You cannot compute for the capital in excess of par since you don’t have the number of shares but let us assume there are 100,000 shares.

If the Company sell 100,000 shares of its common stock for $2 per share, and the par value of each share is $5, then the amount of the capital in excess of par is 100,000 shares x $3/share, = 300,000 and is recorded:

Cash 500,000  

      Common stock ($2 x 100000) 200000

      Additional Paid-In Capital($3 x 100000) 300000
4 0
3 years ago
Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly i
Rudik [331]

Answer:

$245,000.00

Explanation:

The amount of sales revenue to be made to achieve target profit is computed as follows:

<em>Sales revenue to achieve target income</em>

<em>= Total fixed cost for the period + target profit/ contribution margin</em>

Contribution margin = (Sales - variable cost) / sales   ×  100

The figure has been given as 40% in the question

Sales revenue to achieve target profit = (83,000 + 15,000)/0.4

$245,000.00

Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly income of $15,000, what dollar amount of sales must be made to produce the target income?

Sales revenue to achieve target profit = $245,000.00

8 0
2 years ago
Other questions:
  • California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $35 per share. Later in the year, the compa
    5·1 answer
  • A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an effective-interest rate of 7
    12·1 answer
  • It is reasonable to state that one object has twice as much of the attribute property when it has a score of 60, and the other o
    5·1 answer
  • Brand loyalty can be created by: a. minimal advertising. b. not using patents to protect products. c. cutting the costs for rese
    14·2 answers
  • All of the following items are similar to each other except one. Which item is least like the others?
    10·1 answer
  • Rearrange the following contributors to the growth of productivity in descending order of their quantitative importance:______.
    14·1 answer
  • A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. T
    10·1 answer
  • One exabyte = 1,000 <br>A. petabytes <br>B.megabytes <br>C. gigabytes <br>D. nanobytes​
    6·1 answer
  • Mrs. Jones owns stock from which she received $3,000 in cash dividends. Mr. Jones owns stock from which he received $400 in cash
    7·1 answer
  • When the increase in the price of one good causes the demand for another good to decrease, the goods are Group of answer choices
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!