The practice of accepting goods for resale,without taking ownership of them and without being responsible to pay prior to their being sold is called:

Question

Quizplus · Accepted Answer

The practice described in the question is called consignment. In this process, the seller agrees to accept goods from a consignor but does not take ownership of the goods until they are sold. The seller is responsible for selling the goods and pays the consignor a percentage of the sale price as compensation. This allows the consignor to get their products in front of potential buyers without risk or expense, and the seller can offer a wider variety of products without adding to their inventory costs.

The Practice of Accepting Goods for Resale,without Taking Ownership of Them