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Sources of Business Finance — Business Studies STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceBusiness StudiesSources of Business Finance1 Mark
Question
What is factoring?
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Answer

Factoring is a financial service under which the factor of discounting of the bill exchange of the clients and collects his debts and also provides him information credit worthiness of perspective client. He charges fees for the services rendered.

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