Examlex
Which of the following is true of domestic violence?
Factoring Transaction
The process where a business sells its accounts receivable (invoices) to a third party (factor) at a discount, in exchange for immediate cash.
GAAP
Generally Accepted Accounting Principles, a set of rules and standards designed to ensure consistency, fairness, and accuracy in financial reporting and accounting practices in the U.S.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is global in scope.
Factoring Transaction
A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.
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