A(n) ______ is a type of legal claim (lien) against a firm's inventory when it is used as collateral for a loan and the goods are relatively high priced, slow moving, and easy to identify individually using serial numbers or other distinguishing characteristics.

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A trust receipt is a type of legal claim against a firm's inventory that is used as collateral for a loan. The goods are often high priced, slow moving and identifiable using serial numbers or other distinguishing features. A trust receipt allows a borrower to take possession of inventory while the lender retains legal ownership until the loan is repaid. This provides the lender with security against default.

A(n) ______ Is a Type of Legal Claim (Lien) Against