The most common way to perfect a security interest is by: Group of answer choices   -filing a notice of lien in the appropriate legal publication -filing a financing statement at the appropriate governmental office -retaining possession of the collateral by the creditor -filing suit to obtain a money judgment

Q: The following are examples of a partial online offer of the “Transaction Business Model”, except:…

A: Innovation in communication and in technology have changed the desires of the people as well as how…

Q: Which of the following is not considered a financial asset? Petty Cash Fund Investment in debt…

A: The question is based on the concept of Accounting theory.

Q: Rank the following sources of authority in order of authoritative value (with 1 being the…

A: Authority Authoritative value Internal Revenue Code 1 Final Treasury regulation 2 Revenue…

Q: Assume you are working in public accounting and the client you are assisting has a question on the…

A: A bond discount expense has been incurred and being an employee for a Public Accounting what…

Q: According to BAFIA 1989 “a person entitled to repayment of a deposit, whether made by him or any…

A: BAFIA 1989 referred to Banking and Financial Institution Act, 1989. It is the act which provide new…

Q: How are general long-tern liabilities distinguished from other long-term liabilities of government?…

A: Liabilities are described as the obligations which an entity is required to pay back. These can be…

Q: List two types of restrictions long-term creditors often put oncompanies when granting them a loan.…

A: External confirmation External confirmation can be defined as a substantive audit procedure used by…

Q: 29. In accordance with the GAM for NGAs and the Revised Chart of Accounts, how does a government…

A: Government entity have their own Rules and manuals to record any journal,. GAM is Government…

Q: The document a lender gives a borrower detailing the actual costs of a loan is called     a…

A: A truth in lending disclosure is an agreement where there are some important disclosure made by the…

Q: The FHA implements its programs with which of the following procedures?   Providing government…

A: Federal Housing Administration: The FHA's principal purpose was to protect home mortgage loans…

Q: What was evolutionary about laws such as GLBA and FACTA?

A: It is taken regular care by the consumer protection authorities to protect the interest of…

Q: The federal government is required to recognize liabilities from nonexchange transactions     When…

A: Liabilities refer to the obligations that are required to fulfilled in the future by the business.

Q: measuring and recognizing impairment loss on receivables?

A: A is correct because the analysis of past experience gives the estimate of impairment loss on…

Q: Which would be the appropriate section in the codification for the following:  "Borrowings…

A: The Financial Accounting Standards Board (FASB) is an accounting body whose main purpose is to set,…

Q: A bank guarantee is a guarantee from a lending institution ensuring the liabilities of a debtor will…

A: Bank guarantee refers to the form of surety that is being provided by a financial lending…

Q: The Merritt Committee Investigation looked into solutions for dealing with:

A: The Merritt Committee Investigation was done in the year 1910 and this followed the Armstrong…

Q: Which of the following is a borrower's right provided by the Mortgage Bankers Association that is…

A: The mortgage bankers association (MBA) is referred to as the national association which mainly…

Q: Application of the full disclosure principle _____________.   a.requires that the financial…

A: Accounting principles are those rules and guidelines which are used by the accountants in completing…

Q: .In a security agreement, the ___________is the party who owes money and the ____________is the…

A: A security agreement is an agreement between the creditor or a lender and debtor or the borrower, in…

Q: 4. It is the area of the accountancy profession that encompasses the process of analyzing,…

A: Solution: Government accounting is the area of accountancy profession that encompasses the process…

Q: insured who wants to verify the deductible on Section I of their Homeowners policy should look at…

A: insurance policy is considered to be contract between the policy holder and the insurance this…

Q: Christopher is reviewing financial reports for a nonprofit client, and he finds several transactions…

A: A non-profit organization is defined as the legal form of business organization, which is…

Q: How shall an entity subsequently measure financial liabilities?  Is IFRS measurement of financial…

A: Financial liabilities can be measured at amortized cost by using effective interest method and it…

Q: Discuss the priorities among the various parties who may have competing interests in collateral and…

A: Debtor refers to the entity who is a legal entity and the one who owes a debt to another entity. And…

Q: The primary reason for preparing a reconciliation between interest-bearing obligations outstanding…

A:

Q: With the aid of legislation or decided cases state and examine, at least Six (6) relevant steps or…

A: The Private Commercial Projects who are involved in a credit or financial transaction must…

Q: Which is an incorrect scenario on covenants? a. The issuing firms pursued revenue generating…

A: The issuer of a debt signs a covenent that it will use the money for a profitable purpose so that it…

Q: 50. Which of the following government agencies will most likely be able to obatian a disbursement…

A: Cash Disbursement Ceiling - An authority issued by the DBM to departments with overseas operations…

Q: Robin states that 'voluntary disclosure of information in financial reports can help resolve the…

A: Voluntary disclosure of information means there is no compulsion for disclosure of information. In…

Q: 10. Which is correct about covenants? a. Covenants are written promises of the issuer that is…

A: Covenants are basically promises made by the entities or individuals that restricts or promotes…

Q: 27. Which of the following is not one of the necessary closing entries of a government equity?…

A: Closing entries are those entries which are passed at the end of the financial period in order to…

Q: (Based on Appendix 12A) Whole-life insurance policies typically can be surrendered while the insured…

A: Cash surrender value: Companies purchase whole-life insurance policies on the lives of the key…

Q: . XYZ Corporation issued a 5-year bond with a par value of ₱25,000 and pays a semi-annual coupon of…

A: Dear Student we can answer only one question, If a student post multiple questions at a single…

Q: 19- Which statement is correct? a. All U.S. debt issues, private and public, must be registered…

A: Debt is the amount or sum of money that is due or owed and is considered as a state of owing money.…

Q: Which of the following is an arrangement by which one party promises to pay a sum of money to…

A: Options a,b and d are not correct. This is because investments are amount deposited in different…

Q: Which of the following statements is false? Unmatured principal installments and accrued…

A: Liabilities should be reported when the transaction resulted in the amount that needs to be paid in…

Q: 39.A creditor finances the purchase of consumer goods. Perfection occurs   -automatically -upon…

A: Creditors - A lender or creditor is a party or entity that extends credit by giving another party…

Q: 59. The “loans Receivable account is most likely to be used in the books of accounts of which of the…

A: Loans receivable is the amount to be received on account of loan provided to other parties.