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Which of the following statement about open account is incorrect? The factoring company is a...

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Accounting

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Which of the following statement about open account is incorrect? The factoring company is a financial company leg, bank) Under the factoring with recourse, if the factoring company fails to collect payment from the importer, the factoring company can ask the exporter for assistance Under the factoring without recourse. if the factoring company fails to collect payment from the importer, the factoring company can ask the exporter for assistance Factoring refers to the procedure of the exporter uses an intermediary, called a factor, to finance a receivable if the creditor needs immediate payment erial sing None of the above ing Next hCasel

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