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saw5 [17]
3 years ago
7

Within which time period must a Purchase Money Security Interest ("PMSI") creditor in goods, other than inventory or livestock,

perfect her security interest once the debtor takes possession of the collateral?
Business
1 answer:
Masteriza [31]3 years ago
8 0

Answer:

First of all, a PMSI allows a creditor to legally claim possession of property financed by them or demand repayment. The PMSI grants creditors preference over other lenders' claims.

The requirement for the proper perfection of a PMSI in goods other than inventory or livestock is within a 20 day period after the debtor receives possession of the collateral. This rule applies to goods such as equipment and machinery.

In case the good is software, there is no 20 day period. The PMSI must be perfected when the debtor receives possession of the collateral.

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Answer:

True

Explanation:

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In this group, the evaluation of individual taken place with respect to nature, behaviors, and characteristics so that they can know about them i.e performance, aims, etc

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Analysts say visitors stay an average of how many seconds on any webpage?
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What do you mean by parent and host company?​
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On April 2, Granger Sales decides to establish a $290 petty cash fund to relieve the burden on Accounting.
aliya0001 [1]

Answer and Explanation:

The journal entries are shown below:

On Apr 2

Petty cash $290

           To Cash  $290

(Being the establishment of the petty cash fund is recorded)

For recording this we debited petty cash as it increased the cash and credited the cash as it reduced the assets

On Apr 10

Mail & Postage $62

Contributions and Donations $33

Meals & entertainment $114

Cash Short and Over $4     ($290 - $62 - $33 - $114 - $77)

                       To Cash  $213

(Being the replenishment of the fund is recorded)

For recording this,  we debited the mail & postage, contributions & donations, meals & entertainment as it increased the expenses and credited the cash as it reduced the assets and the balancing figure is debited to cash short and over

On Apr 11

Petty Cash $140    ($430 - $290)

         To Cash  $75

For recording this we debited petty cash as it increased the cash and credited the cash as it reduced the assets

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3 years ago
Determine whether each of the following accounting duties mainly involves financial accounting, managerial accounting, or tax ac
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Answer:

Explanation:

1. managerial

2, managerial

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5. tax

6. financial

7. tax

8. tax

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