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: Do some states allow creditors to engage in deception with the debtor to obtain the collateral if…

A: The term "creditors" refers to individuals or entities to whom money is owed by a debtor (the person…

Q: Comprehensively discuss the consequences of mortgage defaults coupled with the inherent rights to…

A: Mortgage : is a secured loan that is used to purchase a property against a collateral provided by…

Q: 49. You have a first time homebuyer who is going to settle on the purchase of a $156,000 home with a…

A: Loan-to-Value: A financial ratio that compares the amount of money being borrowed to the market…

Q: Explain the possible IFRS treatment of bank loans.

A: IFRS is international finance reporting standards will replace with Accounting standards 39.

Q: How can knowledge of call options help a financial manager to better understand warrants…

A: It is a contract to purchase a financial asset from one party and sell it to another party on an…

Q: Which of the following charges would NOT be subject to any error tolerance factor in the Loan…

A: Tolerance error in the loan estimate This means that a fee is deemed to be in "good faith" if the…

Q: In order to make sure that loans are properly classified, the auditor would:   a. Examine due…

A: Audit is an independent examination of the financial staemetnts of an entity to present a true and a…

Q: During a formal relationship review of a company's bank, the company should discuss all of the…

A: A formal relationship review of a company’s bank can discuss the following points:Fees and error…

Q: How is Benford's Law used to investigate cases of fraud

A: According to Benford's Law, the odds are not random. In reality, the first digit has a 12.5 percent…

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: How can bankers be spotting potential fraud among the loan granted

A: Bank loan means the loan given by the bank to the borrower. This loan can be provided for short term…

Q: Which of the following roles is considered a main objective of credit rating agencies? a. Granting…

A: A credit rating agency examines a debtor's ability to repay the debt by making timely principal and…

Q: Which of the following is NOT an example of a contingency? Salaries payable to top management…

A: Contingencies typically involve uncertainties or potential future events that may impact a company's…

Q: Internally generated evidence held by the client includes: a) bank statements. b) correspondence…

A: The auditor requires to validate the information of the financial statements.

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: What two types of current assets are frequently used as security for short-term loans?

A: Short term loans are generally obtained by companies in order to support their temporary business…

Q: What are some possible agency conflicts between borrowers and lenders?

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal authorizes agent…

Q: A(n) _________ is a lender, seller, or any other person in whose favor there is a security interest.…

A: Following are the definitions:   Unsecured Creditor: A creditor not having the benefit of security…