Characteristics of pledging accounts receivable include all of the following, except

Exam Question

Characteristics of pledging accounts receivable include all of the following, except

• 1) the sale of receivables to a finance company
• 2) the lender stipulates which accounts are of sufficient quality
• 3) 60-80% of the value of the acceptable collateral may be borrowed
• 4) the interest rate is normally well in excess of prime

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