Which of the Following Is Incorrect in Relation to Consignment

question 10

Multiple Choice

Which of the following is incorrect in relation to consignment sales?

• A) A consignment sale is one where the owner transfers possession of the goods but not legal title to a third party (agent).
• B) On sale of an item held on consignment, the agent remits the proceeds to the owner (normally less commission).
• C) The owner will recognise revenue on consignment sales at the time of sale of the item to the ultimate customer.
• D) Consignment sales are a common way of increasing revenue at or near the end of a period.

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Definitions:

Terms

Specific words or expressions used in particular contexts or fields, often carrying defined meanings or connotations.

Lower In Status

A relative position in a social hierarchy that is considered less prestigious, powerful, or important compared to others.

Respect

Admiration or high regard for someone or something, often due to their abilities, qualities, or achievements.

Sexist Bias

Prejudgment or discrimination based on a person's sex or gender, often favoring one gender over another.