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When a business factors its accounts receivables, this means that the business ________.
A) uses the receivables as security for a loan
B) no longer has to deal with the collection of the receivables from the customers
C) receives the total amount of the receivables from the factor
D) receives cash, less an applicable fee, after the factor collects from the customers
The credit department must have access to cash so that they can exercise effective internal control over receivables. TRUE FALSE
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