Match the following terms with the appropriate definition.
-One who receives and holds goods owned by another for purposes of selling the goods for the owner.
A)Gross profit method
B)Inventory turnover
C)Conservatism principle
D)Consistency concept
E)Consignor
F)Consignee
G)Days' sales in inventory
H)Retail inventory method
I)Specific identification method
J)Lower of cost or market

Question

Quizplus · Accepted Answer

A consignee is the party in a consignment agreement who receives and holds goods owned by another party (the consignor) for the purpose of selling those goods. The consignor retains ownership until the goods are sold.

Match the Following Terms with the Appropriate Definition