Goods on Consignment to Another Company

question 10

Multiple Choice

Goods on consignment to another company:

• A)belong to the consignee because title has passed.
• B)belong to the consignor because title has passed.
• C)belong to the consignor because the consignee is merely selling them for the consignor.
• D)belong to the consignee because the consignor is merely selling them for the consignee.

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Definitions:

Administrative Reason

A justification or explanation based on the requirements or procedures of management or bureaucracy.

Emergency Needs

Immediate financial requirements that arise unexpectedly, requiring quick access to funds.

Lock Boxes

A cash management service offered by banks involving the collection of payments from a corporation's customers, aiming to reduce the time it takes for companies to receive payments.

Mail Float

The time between when a payment is mailed and when it is received and processed.