name one method of factoringbusiness studies class 11
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Subject:
Business Studies -
Author:
dutches -
Created:
1 year ago
Answers 2
Industry
The industry refers to an activity that converts raw material into useful products.
Industry and its classification into three broad categories: Primary, Secondary and Tertiary
(a) Primary industries.
(b) Secondary industries.
(c) Tertiary industries
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Author:
titanfcj2
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Factoring is a process through which a business firm can obtain some immediate cash or capital where they can use a future income that is yet to be paid to them.
- Discounting bills of exchange through banks is one of the ways factoring can be done.
- It helps to meet the immediate requirement of cash or capital.
- It reduces bookkeeping costs and overhead expenses.
- It also helps to avail various cash discounts which can be paid to suppliers to reduce the production cost.
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Author:
elsaknox
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