A business student was heard to make the following remark: With the advent of credit cards and

Question:

A business student was heard to make the following remark: ‘With the advent of credit cards and the existence of factor businesses, it now possible for business entities to offer extensive credit facilities to customers without having to worry about accounting for accounts receivable and all the problems that it brings. Carrying one’s own accounts receivable will become a thing of the past.’ Discuss.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

Question Posted: