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:

External Recruitment

The process of searching for and hiring candidates from outside the organization to fill open positions.

Reliable Information

Accurate, trustworthy, and dependable data or facts that can be used to make informed decisions.

Human Resource Planning

Involves systematically forecasting an organization's future demand and supply of workforce needs and creating strategies to meet these needs.

Permatemps

Workers who are employed in a temporary status for an extended period of time.