The Only Condition Required for Control Over Receivables to Be

question 119

True/False

The only condition required for control over receivables to be surrendered is that the transferred assets should be beyond the reach of the transferor and its creditors.

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Definitions:

Terminus

The lower end of a glacier.

Evaporation

The process by which water transforms from a liquid to a gas or vapor, often driven by heat from the sun.

Seawater

The saltwater that makes up the oceans and seas, covering more than 70% of the Earth's surface.

Sediment

Particles of organic or inorganic matter that settle out of suspension in water, air, or ice, and accumulate in layers on the earth's surface.