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:

Operating Expenses

The costs associated with the day-to-day operations of a business, excluding the costs of goods sold.

Rent Revenue

Income earned from leasing out properties or spaces to tenants.

Periodic Inventory System

An inventory system that updates inventory balances after a specific period, typically using physical counts.

Accounts Payable

Liabilities of a business that are debts owed to creditors for purchases made on credit.