Which of the Following Would Be Correct If a Company

question 38

Multiple Choice

Which of the following would be correct if a company factored $2,500,000 of receivables with a 2 percent fee?

• A)$2,450,000 credit to cash
• B)$50,000 debit to factoring fee expense
• C)$2,500,000 debit to accounts receivable.
• D)$50,000 debit to factoring fee receivable.

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Definitions:

Autism Spectrum Disorders

A range of developmental conditions characterized by challenges with social skills, repetitive behaviors, and communication, with symptoms and severities varying widely among individuals.

Schizophrenia

A severe mental disorder characterized by disturbances in thought, perception, and behavior, leading to a loss of contact with reality.

Multiaxial Classification

A clinical approach that considers multiple aspects of a person’s mental health across different axes or dimensions.

General Medical Conditions

Term referring to any bodily diseases or disorders that are not primarily linked to the mental health condition being treated.