Bristol Machinery Has a Conventional Receivables Factoring Arrangement with a Factor

question 187

Multiple Choice

Bristol Machinery has a conventional receivables factoring arrangement with a factor. This indicates that:

• A) Bristol is responsible for any bad debts.
• B) The money payable under the arrangement will be paid to Bristol at some agreed-upon future date.
• C) Bristol will receive an amount equal to the entire receivables transferred less any bad debts.
• D) Bristol will receive a discounted amount but will not be responsible for any bad debts.
• E) Bristol will receive a discounted amount and will also be responsible for any bad debts.

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