"Goods on Approval"
A) are considered sold when removed from the seller's premises regardless of whether or not legal title has transferred to the buyer.
B) should be included in the seller's physical inventory unless legal title has passed to the buyer.
C) would be considered inventory of the buyer
D) are not considered to be sold until the buyer has paid a cash deposit to the seller.

Question

Quizplus · Accepted Answer

Goods on approval are included in the seller's inventory until the buyer approves them, as legal title and ownership have not yet transferred to the buyer.