Once an entity sells its receivables, it no longer needs to keep a documentary record of receivables that have been sold.

Name: Once an entity sells its receivables, it no longer needs to keep a documentary record of receivables that have been sold.
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Question

Once an entity sells its receivables, it no longer needs to keep a documentary record  of receivables that have been sold.

Quizplus · Accepted Answer

Selling receivables does not absolve an entity from maintaining records of those transactions. Proper documentation is necessary for accounting, auditing, and in some cases, legal reasons, even after the receivables have been sold.

Once an Entity Sells Its Receivables, It No Longer Needs