High Point Hotel (HPH) Has $218,000 in Accounts Receivable

question 81

Multiple Choice

High Point Hotel (HPH) has $218,000 in accounts receivable. To finance a major purchase, the company assigns these receivables to Cross Town Bank. Which one of the following statements correctly describes this transaction?

• A) HPH will immediately receive $218,000 and will have no further obligation related to these receivables.
• B) HPH will receive some amount of cash immediately while maintaining full responsibility for any uncollected receivables.
• C) Cross Town Bank accepts full responsibility for the collection of the accounts receivables and, in exchange, immediately pays HPH a discounted value for its receivables.
• D) Cross Town Bank accepts full responsibility for collecting the accounts receivables and pays HPH a discounted price for the accounts collected after the normal collection period has elapsed.
• E) HPH receives the full amount of its receivables upon assignment but must reimburse Cross Town Bank for any uncollected account.

Identify and explain the properties and significance of atoms, including their mass and atomic number.

Distinguish between acids, bases, and buffers and their roles in chemical reactions.

Explain the concept of ionization and its effects on solution properties.

Understand the basic structure of the atom and the periodic table, including atomic number and mass number.

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Definitions:

Iris

The colored ring of muscle that surrounds the pupil of the eye, controlling the size of the pupil and the amount of light that enters.

Accommodation

In psychology, it refers to the cognitive process of revising existing cognitive schemas, perceptions, and understanding so that new information can be incorporated.

Lens

A curved piece of glass or other transparent material that focuses or refracts light, used in optical devices like glasses, cameras, and microscopes.

Retina

A thin layer of tissue at the back of the eye that contains the cells responsible for converting light into neural signals for vision.