Identify and State the Historical Significance of the Following

question 71

Short Answer

Identify and state the historical significance of the following:
-Works Progress Administration

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Definitions:

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.

Accounts Receivables

Liabilities of customers towards a business for commodities or assistance that have been executed or utilized, waiting to be paid.

Collecting Accounts

The process of managing the collection of revenues or receivables from clients or customers.

Operating Cycle

The duration it takes for a company to purchase inventory, sell it, and then convert the sales back into cash. It reflects the efficiency with which a company can turn its product into cash.