Accounting · Consignment Accounts
Which of the following statements is FALSE in relation to a consignment transaction?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The consignee does not become the debtor of the consignor immediately upon receipt of goods.
- 2The dispatch of goods on consignment amounts to an immediate sale of goods by the consignor.✓
- 3The legal ownership and title of goods is not transferred to the consignee.
- 4The relationship between the consignor and the consignee is that of a principal and an agent.
Correct answer
The dispatch of goods on consignment amounts to an immediate sale of goods by the consignor.
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