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Home Interview Accounting and Finance Comments

  • Question
  • What is factoring?


  • Correct Answer
  • Selling the rights to the amounts owing by debtors to a finance company for an agreed amount (which is less than the figure at which they are recorded in the accounting books because the finance company needs to be paid for providing the service) 


  • Accounting and Finance problems


    Search Results


    • 1. What do you mean by Credit Management under AR in Professional field?
    • Discuss
    • 2. What is reconciliation?
    • Discuss
    • 3. Explain What is the difference between debenture holders and creditors?
    • Discuss
    • 4. What are the components or materials used by Accounts receivable departments?
    • Discuss
    • 5. Describe account receivable?
    • Discuss
    • 6. Explain What is Customer Master record?
    • Discuss
    • 7. What is the Auto Invoice? What are the setup Steps for Auto Invoice?
    • Discuss
    • 8. Who is responsible for maintaining the Accounts receivable in an organization?
    • Discuss
    • 9. Which of the following statements about market segmentation is true?

    • Options
    • A. It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
    • B. It is a process of creating an image or identity of the product in the minds of the target market.
    • C. It is a process of evaluating each segment's attractiveness and selecting one or more to enter.
    • D. It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market.
    • Discuss
    • 10. When an account becomes uncollectible and must be written off

    • Options
    • A. Accounts Receivable should be credited
    • B. Sales Revenue should be debited
    • C. Allowance for Doubtful Accounts should be credited
    • D. Bad Debt Expense should be credited
    • Discuss


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