All of the following statements related to goods on consignment are true except:
A) A consignee sells goods for the owner.
B) Goods on consignment are goods provided by the owner, call the consignor.
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 does not report the goods in its inventory; the consignor retains ownership and reports the goods in its inventory until they are sold.

All of the Following Statements Related to Goods on Consignment