When a Business Pledges Its Accounts Receivable,it Transfers the Right

question 80

True/False

When a business pledges its accounts receivable,it transfers the right to collect cash from customers to the bank.

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Definitions:

Snow Removal

Services or actions taken to clear snow from roads, sidewalks, and other surfaces, typically considered a maintenance expense for businesses in areas with snowfall.

Provided

Refers to the information or items that have been supplied or made available.

Accrual Basis

An accounting method where revenues are recorded when earned and expenses are recorded when incurred, regardless of when cash is exchanged.

Cash Received

Money that a business or individual has taken in, whether from transactions, investments, or other sources.