Under a Consignment Sales Arrangement, Revenue Is Recognized Under the Earnings

question 47

Multiple Choice

Under a consignment sales arrangement, revenue is recognized under the earnings approach

• A) upon shipment of the merchandise to the consignee.
• B) upon receipt of the merchandise by the consignee.
• C) upon sale by the consignee.
• D) upon receipt by the consignor of notification of the sale.

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Definitions:

Cardinal Trait

A personality attribute that dominates and shapes an individual's behavior in most situations.

Central

Principal or highly important; this term can relate to main functions, locations, or processes within various fields.

Tertiary

Pertaining to the third order, stage, level, or degree in a sequence.

Trait Theorists

Psychologists who study personality, focusing on the identification and measurement of consistent behavior patterns referred to as traits.