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Question 3 (20 marks) a) Describe how a firm with expanding revenues can resolve the problem of accounts receivable growing faster than its revenue growth,

Question 3 (20 marks)

a) Describe how a firm with expanding revenues can resolve the problem of accounts receivable growing faster than its revenue growth, causing cash flow constraints(5 marks)

b) What is a factor company?(5 marks)

c) What are the effects of with-recourse and notification conditions being incorporated in a factoring contract? (10 marks)

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