The Term, Factoring, Refers to Selling Accounts Receivable at a Discount

question 6

True/False

The term, factoring, refers to selling accounts receivable at a discount to a finance company known as the factor.

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Definitions:

Globalization

The trend to opening up foreign markets to international trade and investment.

Technological Change

The process of innovation or introduction of new technology within a company or society.

Needs Assessment

A systematic process to identify and prioritize gaps between current conditions and desired states or outcomes in an organization.

Trainee Readiness

The level at which a new employee or trainee is prepared and willing to undergo training for their new role or task.