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Answer :
Suppose Credit Co lends money to Car Dealer to enable Car Dealer to finance its inventory of new automobiles and Credit Co takes a security interest in Car Dealer's inventory. If Credit Co wants its interest to continue, when any cars are sold to customers, it will have a security interest in the cash proceeds.
The correct answer is 1) cash proceeds.
When Credit Co lends money to Car Dealer to finance its inventory of new automobiles and takes a security interest in the inventory, Credit Co would aim to have its interest continue even after cars are sold to customers. In this scenario, once the cars are sold, Credit Co will have a security interest in the cash proceeds from those sales.
This means that the funds obtained from the sale of the inventory cars, which are now 'proceeds,' will still be subject to the security interest that Credit Co has, thus securing the repayment of the original loan.
The correct answer is 1) cash proceeds.
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