The outright sale of receivables by firms to financial organizations is called factoring.
Answer the following statement true (T) or false (F)
True
Sometimes, receivables are actually sold to financial organizations. With this arrangement, the firm is said to be factoring its receivables, and the buyer is called a factor. The dollar amount the firm receives when receivables are sold is less than the full value of the receivables. See 14-4: Sources of Short-Term Financing
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