Which of the following statements is TRUE?

a. With factoring, a firm is able to sell its accounts receivable at a premium to the bank, which is known as a factor.

b. Commercial paper is a short-term secured note issued by a firm.

c. It is never worth accepting a marginal customer even if they might become a regular and reliable buyer later.

d. In a growing firm the amount of total capital requirement will grow over the long run, showing a steady uptrend.

e. Carrying costs encourage firms to hold current assets to a maximum.