Which of the Following Statements Is FALSE

Multiple Choice

Which of the following statements is FALSE?

A) Commercial banks,finance companies,and factors,which are firms that purchase the receivables of other companies,are the most common sources for secured short-term loans.
B) The factoring arrangement may be without recourse,in which case the lender bears the risk of bad-debt losses.
C) In a floating lien,general lien,or blanket lien arrangement,specific inventory is used to secure the loan.
D) If a firm sells its goods on terms of net 30,then the factor will pay the firm the face value of its receivables,less a factor's fee,at the end of 30 days.