When pledging accounts receivables, which of the following statements is/are correct?
I.Pledging requires permission of the SEC.
II.In pledging accounts receivables, the firm loses title to the receivables and they are no longer listed on the balance sheet.
A) Only statement I is correct
B) Only statement II is correct
C) Both statements I and II are correct
D) Neither statement I nor II is correct
Correct Answer:
Verified
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