Factoring of Accounts Receivable Is an Example of

question 74

Multiple Choice

Factoring of accounts receivable is an example of

• A)a novation
• B)an assignment
• C)the privity rule
• D)a venue clause
• E)a breach of contract

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Definitions:

Specific Purpose

The precise goal or objective that an individual, group, or organization aims to achieve within a defined timeline.

Policy

A standing plan that communicates broad guidelines for decisions and action.

Procedure

A sequence of actions or steps taken to achieve a particular end.

Broad Guideline

General principles or recommendations that provide direction without being overly prescriptive or detailed.