Which of the Following Statements Is FALSE

question 6

Multiple Choice

Which of the following statements is FALSE?

• A)Commercial banks,finance companies,and factors,which are firms that purchase the receivables of other companies,are the most common sources for secured short-term loans.
• B)The factoring arrangement may be without recourse,in which case the lender bears the risk of bad-debt losses.
• C)In a floating lien,general lien,or blanket lien arrangement,specific inventory is used to secure the loan.
• D)If a firm sells its goods on terms of net 30,then the factor will pay the firm the face value of its receivables,less a factor's fee,at the end of 30 days.

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Definitions:

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