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1. Ms. Douglas, owner of a small advertising firm, wants to borrow $15,000 from Mr....

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Accounting

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1. Ms. Douglas, owner of a small advertising firm, wants to borrow $15,000 from Mr. Caster, a wealthy, retired real estate agent. Ms. Douglas wants to buy a laser printer and a computer program for desktop publishing which will make her firm more productive. Ms. Douglas has monthly billings of $4,000, owns two computers and a car but rents her office and other equipment. Her husband, Frank, is an accountant employed by another company and does not work for the company owned by Ms. Douglas. Which of the following would be the least likely type of security requested by Mr. Caster to secure repayment of the debt? a. Guarantee b. Chattel mortgage under the Personal Property Security Act c. Assignment of book accounts under the Personal Property Security Act d. Security under the federal Bank Act over inventory

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