________ Is the Discounting of a Foreign Account Receivable by Transferring

question 39

Multiple Choice

________ is the discounting of a foreign account receivable by transferring title of the sold item and its account receivable to an organization-that specializes in purchasing accounts receivable-for cash at a discount from the face value.

• A) Confirming
• B) Countertrading
• C) Forfaiting
• D) Factoring

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Definitions:

Panamanian Independence

The act or process through which Panama gained sovereignty and independence from Colombia in 1903, with US support.

Treaty of Paris

The 1783 agreement that ended the American Revolutionary War, recognizing the independence of the United States from Great Britain.

Anglo-Saxon Purity

A concept rooted in racial ideology that idealizes the characteristics, culture, and heritage of Anglo-Saxons, often associated with white supremacy.

American Capitalism

An economic system in the United States based on private ownership of the means of production and the creation of goods or services for profit.