Factoring Account Receivables Involves the Business Selling Its Accounts Receivable

question 5

True/False

Factoring account receivables involves the business selling its accounts receivable to a finance company,and the finance company assumes any bad-debt risk.

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Definitions:

Legal Correspondence

Communication in various forms, such as letters, emails, or memos, that relates to legal matters or proceedings.

General Format

A broad set of guidelines or standards applied to documents or media to ensure consistency and readability.

Salutation

In a letter, the formal greeting to the addressee. The salutation is placed just below the reference line.

Paralegals

Legal professionals who assist attorneys in the delivery of legal services, but are not licensed to practice law.