Factoring Refers to the Process of Selling Accounts Receivable for Cash

question 82

True/False

Factoring refers to the process of selling accounts receivable for cash.

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Definitions:

French Law

The legal system of France, which is a civil law system primarily based on written codes like the Code Civil, distinct from common law systems.

Common Code

A set of shared principles or guidelines, often in programming or legislative contexts, that aim to standardize practices.

Rent Escalation Clause

A provision in a lease agreement that allows the landlord to increase the rent at predefined intervals or based on certain criteria.

Yearly Rent Increase

A contractual or statutory increment in the amount payable for renting a property or space that occurs on an annual basis.