Please Define the Following Key Terms

question 37

Short Answer

Please define the following key terms
-Ismail

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Definitions:

Calendar Year

The period from January 1st to December 31st, used for financial and administrative purposes.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to obtain immediate cash.

Accounts Receivables

Liabilities of customers towards a business for commodities or assistance that have been executed or utilized, waiting to be paid.

Collecting Accounts

The process of managing the collection of revenues or receivables from clients or customers.