All of the following statements related to goods on consignment are true except:
A)Goods on consignment are goods provided by the owner,call the consignor.
B)A consignee sells goods for the owner.
C)The consignor continues to own the consigned goods.
D)The consignee reports the goods in its inventory until sold.
E)The consignor reports the goods in its inventory until sold.

Question

Quizplus · Accepted Answer

The consignee reports the goods in its inventory until sold, while the consignor reports the goods as inventory until the sale is made.

All of the Following Statements Related to Goods on Consignment