Which of the following statements is true regarding accounts receivable?

Question

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The UCC recognizes two types of intangible collateral: (1) accounts and (2) general intangibles. The term accounts or accounts receivable refers to the right to payment for goods sold or leased or for services rendered which are not evidenced by chattel paper or an instrument. The term general intangibles applies to any personal property other than goods, accounts, chattel paper, documents, instruments, and money. This is used as a catchall phase for interests not otherwise covered unless they are specifically excluded.

Which of the Following Statements Is True Regarding Accounts Receivable