Question: Under which approach to financing with receivables does the borrower act like it borrowed money from the lender, with the receivables remaining on the borrowers

Under which approach to financing with receivables does the borrower act like it borrowed money from the lender, with the receivables remaining on the borrowers balance sheet and serving as collateral?
Multiple choice question.
Factoring receivables
Sale of receivables
Secured borrowing
Securitization

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