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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Explain how factoring works. Of what benefit is factoring to a firm that sells its receivables?

Summary Introduction

To determine: The ways in which factoring works and the benefit factoring provide to a firm that sells its receivables.

Introduction: Factoring is a money related administration in which the business entity sells its bill receivables to an outsider at a discount with a specific end goal to raise funds.

Explanation

The ways in which factoring works and the benefit factoring provide to a firm that sells its receivables are as follows:

A factor, or considering organization, purchases other firms' records receivable. The factor purchases the records receivable for not as much...

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