Kimlon Informatics Has to Recover $5000 from a Client for Its

question 45

Multiple Choice

Kimlon Informatics has to recover $5000 from a client for its services.The recovery period is 100 days but Kimlon needs the money immediately.It sells the right of collecting money from its client to Quikcollect, a collection agency.Here, Kimlon Informatics is the ________.

• A)obligor
• B)obligee
• C)subassignee
• D)assignee

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Definitions:

Finished Goods Inventory

The stock of completed products that are ready to be sold but have not yet been sold.

Factory Overhead Cost

All indirect costs associated with manufacturing, such as maintenance and cleaning of equipment, which cannot be directly traced back to the production of specific goods.

Manufacturing Process

The sequence of operations or techniques used to transform raw materials or components into finished goods.

Insurance

A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.