Which of the Following Statements Concerning the Factoring of Accounts

question 18

Multiple Choice

Which of the following statements concerning the factoring of accounts receivable is true?

• A) A disadvantage of factoring can be its high cost.
• B) Credit cards are a form of factoring (i.e. the credit card firm specialises in the collection of accounts receivable).
• C) A typical journal entry to record the sale of accounts receivable is DR Bank; DR Service charge expense; CR Accounts receivable control.
• D) All of the above options are true.

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