Consigned goods are goods held for sale by one party although ownership of the goods is retained by another party.

Question

Quizplus · Accepted Answer

Consigned goods are held for sale by one party, typically a retailer or distributor, but ownership of the goods remains with the original owner or supplier until they are sold. The retailer or distributor acts as a consignee, selling the goods on behalf of the owner and receiving a commission or percentage of the sale as compensation.

Consigned Goods Are Goods Held for Sale by One Party