Which Statement Is Not Correct

question 43

Multiple Choice

Which statement is not correct?

• A)Factoring with recourse creates a liability on the balance sheet.
• B)Factoring with recourse creates a receivable on the balance sheet.
• C)Factoring without recourse negatively impacts working capital.
• D)Factoring without recourse means that the seller takes the collection risk.

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Definitions:

Millard Fillmore

The 13th President of the United States, serving from 1850 to 1853, known for his attempts to navigate the complicated politics of slavery in his time.

Mount Rushmore

A monumental granite sculpture located in South Dakota, USA, featuring the 60-foot heads of Presidents George Washington, Thomas Jefferson, Theodore Roosevelt, and Abraham Lincoln.

House of Representatives

The lower chamber of the United States Congress, comprised of representatives from each state, proportional to population, who are elected to serve two-year terms.

Senate

The upper chamber in a bicameral legislative system, often responsible for making and passing laws alongside a lower house.