-Collateral can be classified as goods as well as intangibles.

Group of answer choices

True

False

-Over the course of history, courts have held that liability for negligence by an accountant has only been extended to the person who has employed the accountant.

Group of answer choices

True

False

-One way of keeping a trade secret is to obtain a patent on it.

Group of answer choices

True

False

-Santa offers his brother, Fred, his 1894 sleigh which would only need about $700 in repairs to put it in good flying condition. Fred has no right to reject the gift.

Group of answer choices

True

False

-Individual debtors have the option to receive credit counseling before filing a bankruptcy petition but it is not required under most circumstances.

Group of answer choices

True

False

-An example of a bailment for the bailor's sole benefit is when Santa, without compensation, lends his 55" television to Fred Claus for Fred's New Year's Eve.

Group of answer choices

True

False

-The Consumer Product Safety Commission's sole purpose is to issue orders banning hazardous products from the market.

Group of answer choices

True

False