The right option is b. Make-to-order goods are products manufactured in small quantities with further designs made to suit the customers taste and fashion. A good example is a car model produced as one of a kind or in small quantities by a manufacturer. However,the interior gets configured in accordance with the customers choice or specification.
Fixed goods as the name implies are fixed and usually requires no modification. Make-to-stock goods are those produced as part of inventory for sale in accordance with the forecast. Standard goods are those that similar in characteristics irrespective of the place or time of production.
First of all, a PMSI allows a creditor to legally claim possession of property financed by them or demand repayment. The PMSI grants creditors preference over other lenders' claims.
The requirement for the proper perfection of a PMSI in goods other than inventory or livestock is within a 20 day period after the debtor receives possession of the collateral. This rule applies to goods such as equipment and machinery.
In case the good is software, there is no 20 day period. The PMSI must be perfected when the debtor receives possession of the collateral.