Asked by
Shanygne Vigilance
on Oct 28, 2024
Verified
Which of the following is not a basic form of financing agreement to obtain cash from accounts receivable?
A) assigning
B) pledging
C) deferring
D) factoring
Financing Agreement
A legal contract between a borrower and a lender, outlining the terms for borrowing funds, including the interest rate, repayment schedule, and other conditions.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services that have been delivered but not yet paid for.
Assigning
The process of allocating or designating resources, tasks, responsibilities, or rights to specific entities or persons within the context of business or legal proceedings.
- Familiarize oneself with the procedures for accounting for sales of accounts receivable, with an emphasis on factoring and assignment, and understand how these transactions affect financial statements.
Verified Answer
WP
Learning Objectives
- Familiarize oneself with the procedures for accounting for sales of accounts receivable, with an emphasis on factoring and assignment, and understand how these transactions affect financial statements.