Question

Under the factoring arrangement, the factor
(a) Produces and distributes (b) Makes the payment on
the goods or services behalf of the client
(c) Collects the client’s debt (d) Transfer the goods from
or account receivables one place to another

Answer 1

Answer:

Under the factoring arrangement, the factor : Collects the client’s debt or account receivables

Among the given options option (c) Collects the client’s debt  or account receivables  is a correct answer.

Mistake in the options :

(a) Produces and distributes

(b) Makes the payment on  the goods or services behalf of the client

(c) Collects the client’s debt or account receivables

(d) Transfer the goods from  one place to another

Explanation:

Factoring(bank credit) : Finance raised through commercial banks is known as bank credit on Bank Finance. Bank provide short term credit to industries granting loans , cash credit and overdraft or by discounting and purchasing Trade bills of customers. Bank finance may be  secured or unsecured .Banks ask for security against the loan advanced or loans may be granted without any security.

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