Problem:
A financing statement prepared in connection with a security agreement which identifies the collateral as "all inventory of the debtor" contains in the field of the financing statement for the description of the Collateral "all assets of the Debtor." Which of the following statements is true? (a) The description of collateral is seriously misleading as being too vague. (b) The filing officer should reject the filing as improperly prepared. (c) Both (1) The description of collateral is seriously misleading as being too vague and (2) The filing officer should reject the filing as improperly prepared. (d) The description of collateral is legally sufficient.