According to the boxed material entitled "Legal Briefcase" in Chapter 18, which of the following describes international factoring?
A) Middlemen ensure that the seller receives the payment from a foreign buyer.
B) A company sells its future accounts receivables to a lending bank to finance their export activities.
C) A company borrows money from an international banker, pledging inventories held in more than one country as collateral.
D) An intermediary financial institution issues shares of ownership to investors in different countries.
Correct Answer:
Verified
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