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All of the following statements related to goods on consignment are true except: Question 38 options: A consignee sells goods for the owner. The consignee reports the goods in its inventory until sold. The consignor reports the goods in its inventory until sold. The consignor continues to own the consigned goods. Goods on consignment are goods provided by the owner, call the consignor.

Sagot :

Answer: The consignee reports the goods in its inventory until sold.

Explanation:

All the statements given in the options are true except "The consignee reports the goods in its inventory until sold".

The above statement is wrong as it is the goods are held by the consignee on the consignor's behalf before they are sold for a certain amount. The consignee doesn't report the goods in its inventory.

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