A Factor Purchases Receivables from Businesses for a Fee and Collects

question 48

True/False

A factor purchases receivables from businesses for a fee and collects the remittances directly from customers.

---

Definitions:

Priority Rules

Guidelines used in manufacturing and project management to determine the order in which tasks or jobs should be executed based on their importance.

Process Time

The duration it takes to complete a specific task or operation from start to finish in a manufacturing or service process.

LPT

Shortest Processing Time, a rule used in job sequencing to minimize the total processing time by scheduling jobs in ascending order of their processing times.