Multiple Choice
Pledging accounts receivable has all of the following characteristics except:
A) money is advanced to the borrower as a loan against accounts receivable
B) accounts receivable balances remain on the balance sheet
C) the customer payment is made to the firm, which then submits the payment to the bank
D) requiring life insurance on the owner(s) of the firm
Correct Answer:
Verified
Correct Answer:
Verified
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