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Factoring
A financial transaction where a business sells its accounts receivable to a third party (factor) at a discount to get immediate cash.
Nontrade Receivables
Amounts owed to a business that are not related to the sale of goods or services, such as tax refunds, advances to employees, or insurance claims.
Company Officers
Executives appointed by the board of directors responsible for managing the day-to-day operations and making major corporate decisions.
Direct Write-Off Method
The method of accounting for uncollectible receivables that recognizes an expense only when an account is determined to be worthless.
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