Which of the Following Is True of a Consignment Agreement

question 47

Multiple Choice

Which of the following is true of a consignment agreement?

• A) If a manufacturer delivers all goods to its dealers on a consignment basis, the goods become the property of the dealer.
• B) The owner of goods delivers them to another who is to act as the owner's agent in selling the goods.
• C) If a manufacturer delivers all goods to its dealers on a consignment basis, the dealer cannot lawfully fix the price of those goods.
• D) It is always held to be joint action.

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Definitions:

Standard Normal Variable

A random variable that follows a normal distribution with a mean of zero and a standard deviation of one.

Z-score

A measure of how many standard deviations an element is from the mean of its distribution.

Standard Normal Curve

A specific instance of a normally distributed curve where the mean is 0 and the standard deviation is 1.

Percentile

A statistical measure indicating the value below which a given percentage of observations in a group of observations fall.