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Factoring agency is a service provider to a firm that extends the services of :
- a)Fixation of economic ordering quantity
- b)Fixation of minimum cash requirement level
- c)Sales ledger administration and credit management
- d)Managing client's logistic and sales management
Correct answer is option 'C'. Can you explain this answer?
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Factoring agency is a service provider to a firm that extends the serv...
Factoring:
- Factoring is a financial service provided by specialized agents to help manufacturers and traders etc. manage their receivables.
- It is a process of selling receivables to a third party at a discount.
- The supplier (exporter) assigns his accounts receivables in favor of the factor and gives notice of assignment to the debtor.
- The factors undertake collection/accounting and management of debts of their clients.
- A factor may either lend against accounts receivables or by purchasing invoices. He will take responsibility for collecting the debt.
- A factoring agency is a service provider to a firm that extends the services of Sales ledger administration and credit management.
- The factoring service may be offered with or without recourse.
- Factoring with recourse refers to the right of the factor to claim bad debts from his client, whereas, without recourse factoring, the risk of bad debt will be borne by the factoring agent himself.
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Factoring agency is a service provider to a firm that extends the serv...
Factoring:
- Factoring is a financial service provided by specialized agents to help manufacturers and traders etc. manage their receivables.
- It is a process of selling receivables to a third party at a discount.
- The supplier (exporter) assigns his accounts receivables in favor of the factor and gives notice of assignment to the debtor.
- The factors undertake collection/accounting and management of debts of their clients.
- A factor may either lend against accounts receivables or by purchasing invoices. He will take responsibility for collecting the debt.
- A factoring agency is a service provider to a firm that extends the services of Sales ledger administration and credit management.
- The factoring service may be offered with or without recourse.
- Factoring with recourse refers to the right of the factor to claim bad debts from his client, whereas, without recourse factoring, the risk of bad debt will be borne by the factoring agent himself.
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Factoring agency is a service provider to a firm that extends the services of :a)Fixation of economic ordering quantityb)Fixation of minimum cash requirement levelc)Sales ledger administration and credit managementd)Managing clients logistic and sales managementCorrect answer is option 'C'. Can you explain this answer?
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Factoring agency is a service provider to a firm that extends the services of :a)Fixation of economic ordering quantityb)Fixation of minimum cash requirement levelc)Sales ledger administration and credit managementd)Managing clients logistic and sales managementCorrect answer is option 'C'. Can you explain this answer? for UGC NET 2024 is part of UGC NET preparation. The Question and answers have been prepared according to the UGC NET exam syllabus. Information about Factoring agency is a service provider to a firm that extends the services of :a)Fixation of economic ordering quantityb)Fixation of minimum cash requirement levelc)Sales ledger administration and credit managementd)Managing clients logistic and sales managementCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UGC NET 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Factoring agency is a service provider to a firm that extends the services of :a)Fixation of economic ordering quantityb)Fixation of minimum cash requirement levelc)Sales ledger administration and credit managementd)Managing clients logistic and sales managementCorrect answer is option 'C'. Can you explain this answer?.
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