What is the difference between pledging accounts receivable and assigning accounts receivable in a secured borrowing$$transaction$?$

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Part $1$

A$.$

When a firm assigns accounts$$receivable$,$ the receivables are collateral for a financing arrangement. When the company pledges accounts$$receivable$,$ specifically designated receivables are collateral for the$$loan$,$ but the receipts on collection of the receivables are directly used to pay down the debt.

B$.$

When a firm assigns accounts$$receivable$,$ the accounts receivable are sold to a third party at a discount without recourse$($without a guarantee of$$collection$).$ When the company pledges accounts$$receivable$,$ the accounts receivable are sold to a third party at a discount and with recourse$($with a guarantee of$$collection$).$

C$.$

When a firm pledges accounts$$receivable$,$ the accounts receivable are sold to a third party at a discount without recourse$($without a guarantee of$$collection$).$ When the company assigns accounts$$receivable$,$ the accounts receivable are sold to a third party at a discount and with recourse$($with a guarantee of$$collection$).$

D$.$

When a firm pledges accounts$$receivable$,$ the receivables are collateral for a financing arrangement. When the company assigns accounts$$receivable$,$ specifically designated receivables are collateral for the$$loan$,$ but the receipts on collection of the receivables are directly used to pay down the debt.