Solved

If a Retailer Regularly Sells Its Receivables to a Factor

Question 111

Multiple Choice

If a retailer regularly sells its receivables to a factor, the service charge of the factor should be classified as a(n)

A) operating expense.
B) interest expense.
C) other expense.
D) contra asset.

Related Questions

Q41: The term "receivables" refers to<br>A) amounts due

Q106: Three accounting issues associated with accounts receivable

Q108: When the allowance method is used to

Q109: A promissory note<br>A)is not a formal credit

Q110: The face value of a note refers

Q112: The two key parties to a note

Q113: If a promissory note is dishonored, the

Q114: Under the direct write-off method, no attempt

Q115: Accounts Receivable are usually the least significant

Q205: Which of the following is not true