In Accounting for Sales on Consignment,sales Revenue and the Related

question 15

Multiple Choice

In accounting for sales on consignment,sales revenue and the related cost of goods sold should be recognized by the

• A) consignor when the goods are shipped to the consignee.
• B) consignee when the goods are shipped to the third party.
• C) consignor when notification is received the consignee has sold the goods.
• D) consignee when cash is received from the customer.

---

Definitions:

Self-Awareness Theory

A psychological theory suggesting that when individuals focus their attention on themselves, they evaluate and compare their behavior to their internal standards and values.

Divisible Task

A task that can be divided into smaller subtasks that can be completed independently or concurrently by different individuals.

Steiner's Taxonomy

A classification system developed by Ivan Steiner that categorizes group tasks into categories based on their nature and the processes required to achieve them.

Free Rider

A term used to describe someone who benefits from resources, goods, or services without paying for them or contributing to their cost.