If receivables are used as collateral in borrowing transactions: Select one: a. the receivables generally come under

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If receivables are used as collateral in borrowing transactions:

Select one:

a. the receivables generally come under the control of the lender.

b. the receivables will be reported as a liability.

c. the transaction would be reported as a sale.

d. a liability is reported on the borrower’s statement of financial position.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0071339476

Volume 1, 6th Edition

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod-Dick I

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Posted Date: Mar 08, 2022 07:35 PM

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If receivables are used as collateral in borrowing transactions: Select one: a. the receivables generally come under

Question:

Expert Answer:

Option C The transaction would be reported as a sale Explanation ... View the full answer

Intermediate Accounting

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