Under an Advance Factoring Contract, Following Flow of Money Takes

question 56

Multiple Choice

Under an advance factoring contract, following flow of money takes place: A: Factor pays a percentage of the invoice face value to the seller at the time of sale B: The remainder of the purchase price is held by factor until the payment by the account debtor is made. C: The cost associated with the transaction is paid upfront by the seller to the factoring agent.

• A) Only B
• B) A, B and C
• C) Only C
• D) Only A and B

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