Factoring Is a Method of Borrowing Against Payables

question 3

True/False

Factoring is a method of borrowing against payables.

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Definitions:

Technological Advance

The discovery of new technologies or the improvement of existing ones, significantly altering the way goods or services are produced.

Digital Video Recorders

Electronic devices that record video in a digital format to a disk drive, USB flash drive, SD memory card, or other local or networked mass storage device.

Price

The financial value anticipated, demanded, or provided as compensation for something.

Wage Rate

The amount of compensation an employee receives per hour of work.