18. A UCC-1 is a document filed with a state agency that indicates specific assets, such as inventory, accounts receivable, and equipment, have been pledged as collateral for a loan. This prevents firms from using the same assets as collateral to secure loans from different lenders. It is terribly important that potential lenders check with the state to see if the UCC-1 has already been filed before agreeing to make a secured loan, and then to file the UCC-1 if they do make a loan. True or false?

a. True
b. False