Pledges of Accounts Receivable and Factoring of Accounts Receivable Are

question 94

Multiple Choice

Pledges of accounts receivable and factoring of accounts receivable are made on ________ basis, respectively.

• A) a nonrecourse and a notification
• B) a nonnotification and a notification
• C) a notification and a recourse
• D) a notification and a nonrecourse

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Definitions:

Exempt

Not subject to an obligation, duty, or requirement that is typically imposed on others; being free from or not affected by something.

Nonexempt

Pertaining to employees who are covered by minimum wage and overtime pay protections under the Fair Labor Standards Act.

Fair Labor Standards Act

A United States law that sets minimum wage, overtime pay eligibility, recordkeeping, and child labor standards for employees in the private sector and government.

Employee Development

A planned effort to provide employees with the knowledge, skills, and abilities needed to accept new and more challenging job assignments within the company.