Which of the Following Is a CORRECT Statement Regarding Methods

Multiple Choice

Which of the following is a CORRECT statement regarding methods to speed up the collection of cash from receivables?

A) Factoring is used frequently by companies since it is an inexpensive way to raise cash.
B) Credit card companies will charge a fee of 20-30% of the total amount of the sale.
C) The company that factors its receivables maintains control over the collection process.
D) Credit Card Discount Expense is reported on the income statement.