JAMB Commerce 2018 Objective — Question 1

Question 1 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2018 Objective paper, with the correct answer and a full explanation.

Factoring is a trade debt term used when the agent buys all the trade debts of the

A. Importers
B. exportersCorrect
C. nations
D. customers

Explanation

Factoring is a financial technique where a specialized firm (factor) purchases from clients' accounts receivables that result from the sales of goods/services to customers, typically exporters.

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