Entities That Invest Funds on Behalf of Others and Change

question 35

Multiple Choice

Entities that invest funds on behalf of others and change the nature of the transactions are called

• A)brokers.
• B)financial intermediaries.
• C)dealers.
• D)market intermediaries.

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Definitions:

Date Due

The specified day by which an obligation must be fulfilled or a payment must be made.

Aging of Accounts

The process of categorizing accounts receivable by the length of time they have been outstanding.

Delinquent

An individual or entity that fails to fulfill an obligation, particularly in terms of financial debt payments, within the stipulated time.

Cycle Billing

The process of invoicing different customers at different times during the month based on a predetermined schedule.