What Is the Difference Between a Sale on Approval and a Sale

question 107

Multiple Choice

What is the difference between a sale on approval and a sale or return?

• A) There is no difference between a sale on approval and a sale or return because you return the products under both scenarios.
• B) Under a sale on approval you must return the goods within a reasonable time and under a sale or return you must return the goods within 30 days.
• C) Under a sale on approval the risk of loss is with the buyer, but under a sale or return the risk of loss is with the seller.
• D) Under a sale on approval the title is with the buyer, but under a sale or return the title is with the seller.
• E) Under a sale on approval a buyer cannot resell the goods unless it is consistent with their use, but under a sale or return a buyer may resell goods as and return those that are unsold.

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Definitions:

Wilcoxon Rank Sum Test

The Wilcoxon Rank Sum Test is a non-parametric statistical test used to compare two independent groups when the data cannot be assumed to be normally distributed.

Male Faculty

Members of a school, college, or university's teaching staff who are male.

Female Faculty

Refers to the women members of the academic staff at educational institutions.

Wilcoxon Signed Rank Test

A nonparametric statistical hypothesis test used when comparing two related samples or repeated measurements on a single sample to assess whether their population mean ranks differ.