It is a receivable financing activity where the Entire Receivable's ownership is sold to the Factee  Assigning Factoring Pledging Discounting

Q: TRUE or FALSE. Under casual factoring, the difference between the carrying value of the accounts…

A: Factoring is technique of selling yours accounts receivable to a bank or financial institutions at a…

Q: in relation to receivables, an entity is required by PFRSs to a. All of these b. disclose any…

A: Solution: In relation to receivables, an entity is required by PFRSs to: 1. Disclose any receivables…

Q: For assets acquired on credit or by installment, the cost or fair value is equal to:  A. cash…

A: The fixed assets are the assets acquired by the business to use for long run.

Q: Select the term that best fits each of the following definitions and descriptions. a. Notes…

A: There are varied terms used in accounting in day-to-day operations. They have a standard meaning…

Q: Accounts receivable are financial assets under the category Loans and Receivables that are measured…

A: Solution: As per IAS, Loans and receivables are financial assets that are measured at amortized…

Q: Which of the following is considered receivables? (select all that applies)  rents   note payables…

A: Receivables are the amounts that are expected to be received by an entity either at present day or…

Q: Requirements:   A. Determine the total payment to unsecured creditors.  B. Determine the total net…

A: Liquidation means where the company decide to close out the operations , sell all the assets and…

Q: Which of the following is true when accounts receivable are factored without recourse? a. The…

A: Accounts receivable factoring without recourse means that the factoring company is not retaining…

Q: Which form of receivables financing is least complex?

A: factoring  is a form of receivables and debtor finance

Q: Explain the term Transfers of Notes Receivable.

A: Note receivable: Note receivable refers to a written promise for the amounts to be received within a…

Q: The realizable amount of notes receivable is considered. a. Income b. all of the above c. Noncurrent…

A: A note receivable is also known as a promissory note. In other words Notes receivable are a balance…

Q: Loans and receivable should be measured subsequent to initial recognition at *   a. Amortized cost…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: who is the vendor for interest payable

A: Lets understand the basics.When entity needs funds to run the business then they generally borrow…

Q: Differentiate between the use of receivables in financing arrangements accountedfor as a secured…

A: Meaning of Financing with Receivable Financing receivable is refer as the arrangement in which…

Q: Why are payments received from customers in advance, for either services to be performed and/or for…

A: Advance payment received from the customer there are two reasons which are mentioned are as follows:…

Q: The receivable that is usually evidenced by a formal instrument of credit is a(n) Select one: a.…

A: Receivables means amount that is to be received from some other person on account of sale of goods…

Q: When receivables are bundled and transferred to another organization that issues securities…

A: Securitization, a type of financial transaction, is the idea underlying the query. Financial assets,…

Q: Discuss how accounts receivable and inventory can be used as collateral for short term securedloan.

A: The objective of this question is to understand how accounts receivable and inventory can be used as…

Q: In financial accounts, how are interfund transactions accounted for

A: An accounting firm's financial statements serve as concise summaries of its activities, conveyed…

Q: What are the criteria for determining whether a sale of receivables has occurred?

A: Receivables: Receivables refer to an amount to be received in future. General classifications of…

Q: When a receivable is written off under the allowance method, how does it affect the net realizable…

A: Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts…

Q: When dealing with receivables, give an example of a subsidiary account.

A: Accounts receivable:   Accounts receivable refers to the amounts to be received within a short…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.