Which of the following is true of financing statements?
A) They cannot be electronically filed.
B) They are effective for one year from the date of filing.
C) They cannot be extended once they expire.
D) They are available for review by the public.

Question

Quizplus · Accepted Answer

Financing statements are public records and can be reviewed by anyone. Option A is incorrect because financing statements can be electronically filed. Option B is incorrect because financing statements are effective for five years from the date of filing. Option C is incorrect because financing statements can be extended by filing a continuation statement before they expire.

Which of the Following Is True of Financing Statements