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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Definitions:

Myelination

The process of coating the axons of neurons with a fatty layer, called myelin, to increase the speed at which information travels through the nervous system.

Cognitive Deficit

A deficiency or impairment in mental processes such as thinking, reasoning, memory, or understanding.

Adult Weight

The expected or actual weight of an individual upon reaching full physical maturity, often used as a benchmark for assessing health and nutritional status.

Lateralized

Describes functions or processes that are predominantly localized to one side of the brain, such as language in the left hemisphere for most people.