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Question 1: Which of the following is a correct statement regarding methods to speed up the collection of cash from receivables?
Select one:
a. Factoring is used frequently by companies since it is a great way to raise cash.
b. The company that factors its receivables maintains control over the collection process.
c. Credit card companies will charge a fee of 20-30% of the total amount of the sale.
d. Credit Card Fee is reported on the income statement
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