In which industry is factoring a common practice?

Name: In which industry is factoring a common practice?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Factoring is a common practice in the apparel industry where small businesses have to depend on factoring services to ensure adequate cash flow. Factoring companies buy the accounts receivable of the apparel businesses at a discounted rate, providing immediate cash flow for the businesses to operate while the factoring company collects the full amount from the customers over time.

In Which Industry Is Factoring a Common Practice