Question

Over the course of a year, Retail Market, Inc., sells goods from its inventory and one of its warehouses. In exchange, Retail receives checks and other items that substitute for cash, which Retail uses to repay a loan from Savers Bank. Article 2 of the UCC governsa. the checks.b. the payment of the loan.c. the sale of the buildings.d. the sale of the goods.

Answer 1

Answer:

The answer is: D) The sale of the goods.

Explanation:

Article 2 of the Uniform Commercial Code (UCC) governs contracts for the sales of goods. Goods are defined as movable property. Usually the sales of services are not included in Article 2, unless the transaction includes the sales of goods. The sales of intangible assets is not included either.