What purpose is served by a factoring arrangement? What does it mean to factor accounts receivable with recourse?
Factoring involves the sale or transfer of accounts receivable to a buyer for the purpose of obtaining cash prior to customer payment. Factoring with recourse means that the seller of the accounts receivable is liable to the purchaser upon default of the customer.
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Loyalty programs, such as frequent flier and consumer clubs, help organizations amass a steady flow of data about their customers.
Answer the following statement true (T) or false (F)
When after all of your best efforts you are still unable to close the sale, act professionally and do not take the refusal personally.
Answer the following statement true (T) or false (F)
Which of the following is an incorrect statement regarding termination by agreement?
A) The principal may decide to terminate the principal-agent relationship. B) The agent may decide to terminate the principal-agent relationship. C) When the principal-agent relationship is terminated by agreement, all third parties who dealt with the agent should be given actual notice by the principal. D) When the principal-agent relationship is terminated by agreement, actual notice may be given to others through advertisements in newspapers published in areas where the agent operated on behalf of the principal.
__________ is the simplest and most prevalent form of business enterprise in the U.S
a. S corporation b. Partnership c. Sole proprietorship d. Joint venture