1 Which of the following statements is correct?TrueTrade credit insurance permits you to extend more credit to large customerswhere the risk concentration may have been perceived to be too great otherwise.A financing statement is a security instrument that, when filed, provides thecreditor a perfected security interest in the underlying collateral and proceeds ofthat collateral.FalseO tis necessary to involve an attorney in the credit process to minimize legaldefenses and process to maximize your potential recovery on customer defaults.O All of the options are correct statements.

Insurance refers to the contract between the insurance company and the person in which the fixed…

Answered: D All of the options are correct…

Business

Accounting

D All of the options are correct statements.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter4: Professional Legal Liability

Section: Chapter Questions

Problem 12CYBK

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Question

Which of the following statements is correct?
TrueTrade credit insurance permits you to extend more credit to large customers
where the risk concentration may have been perceived to be too great otherwise.
A financing statement is a security instrument that, when filed, provides the
creditor a perfected security interest in the underlying collateral and proceeds of
that collateral.False
O tis necessary to involve an attorney in the credit process to minimize legal
defenses and process to maximize your potential recovery on customer defaults.
O All of the options are correct statements.

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