To Obtain Working Capital, Mining Company Puts Up All of Its

Multiple Choice

To obtain working capital, Mining Company puts up all of its equipment as security to borrow $100,000 from National Bank, which agrees to advance up to $100,000 more in the future. The bank properly perfects its security interest. To use the same collateral as security for a future advance, the bank must

A) execute a new security agreement.
B) re-perfect its security interest by possession.
C) none of the choices.
D) file a new financing statement.