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ABL Knowledge Assesment
By S C
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Last updated almost 2 years ago
9 questions
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Question 1
1.
What percentage of total receivables does Xtreme Glasses account for?
Question 2
2.
What percentage of receivables are in the 61-90 day window?
Question 3
3.
What percentage of this business' customer base do Restricted Access, Inc. and Teal communications account for on a combined basis?
Question 4
4.
An account receivable is created when...
cash is received by the company providing goods or services
a good or service is provided and payment is expected to follow the receipt of a bill
a customer does not pay their bill for at least 30 days
advances are made on a line of credit
Question 5
5.
An asset based line of credit provides the borrower with...
money to purchase real estate on a long term basis
funds for personal use by the principal or guarantor
assets
working capital or cash needed to do business
Question 6
6.
Banks typically disallow advances on a line of credit against receivables that are...
current
less than 30 days from invoice date
less than 60 days from invoice date
more than 90 days from invoice date
Question 7
7.
The 75% advance rate against receivables is applied before deducting those receivables over 90 days from invoice date.
True
False
Question 8
8.
The 75% advance rate against eligible receivables is also know as
a 25% discount
a 75% discount
a 25% advance rate
Question 9
9.
The line of credit has a maximum commitment or maximum exposure of...
$4,000,000
$2,500,000
$2,398,427
($101,572)