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:

Payment Time

The pre-determined or agreed upon time at which payment is made for goods provided, services rendered, or salaries for work done.

Emotional Problems

Issues affecting a person's emotional well-being and functioning, often requiring professional help to manage.

Pension Fund

A fund set up to collect income and disburse payments to those entitled to retirement or disability benefits, often contributed to by employer, employees, or both.