Question: In deciding whether financing with receivables is a secured borrowing or a sale under U.S. GAAP, the critical element is the extent to which The

In deciding whether financing with receivables is a secured borrowing or a sale under U.S. GAAP, the critical element is the extent to which The transferor of the receivable surrenders control over the assets transferred. The age of the receivables transferred differs from the average age of the receivables. The transferee relies on assets received from the transferor to maintain operations. The transferee has received substantially all the risks and rewards of ownership

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