"Consignment is the same thing as sale". Discuss.

Question

18 Mar 2025

Answer :

Word Count : 302

Consignment and sale are distinct concepts in financial accounting, though they may appear similar at first glance. A sale involves the direct transfer of ownership of goods from the seller to the buyer in exchange for a consideration. The ownership rights and associated risks and rewards are transferred to the buyer at the point of sale. The seller records the revenue in their books upon the completion of the sale transaction, and the buyer becomes ___ _____ ____ ___ _________ __________ __________ _____.
___ _______ ___ ________ ________ ___ ______.
_____ __________ ___ _________ _____ ______ _____.
____ ________ ________ _____ ______ _______ ____ _________ ___ ________.
____ _________ _____ ___ _________ ____ _________ _________ ________ __________ ____ _____.
____ ____ __________ __________ _______ __________.
_________ _________ _______ ______ ________ ______.
________ ____ ______ _____ ________ _________ ____ ___ ________.
____ _______ ________ __________ _________.
_____ ________ _______ ___ _________ _____ ______ ___.
___ __________ _________ _________ ________.
____ ______ _____ ________ _______ ________ ___ ___ ____.
_______ ________ ___ ______ ________ ___ _________ ____ ______.
______ _______ ____ __________ __________ ____ _________.
___ _____ _______ ____ ______ ____ ________.
____ ___ _________ ___ ____ ______ _______ _________ ______ ________ _________ _______.
_______ __________ ____ ________ ______ __________ ________ ___ _________ _________ ____ ____.
______ _______ ____ ___ _________.
__________ ________ ____ ____ ________ ________ ______.
_____ ______ ________ __________ _____ _________ _________.
______ ________ __________ ___ ______ ______ ________ _______ ___ _______ ____.
_________ _______ ________ _________ __________.
____ ________ ____ _________ _________ _______ ___ _________ _________.
________ ____ _________ _________ _____ ______ ____ ______ ___.
_________ ____ _________ ____ __________.
_____ ____ _______ ________ _______ _________ ____ ________ __________ _________.
________ _________ _____ _____ __________ ____ ________.
_____ _______ _____ ______ __________.
__________ _______ ______ __________ __________ ___ ______ ____.
Get Full Answer on WhatsApp

IGNOU Solved Assignments Assignments Ignou Projects Project Previous Year Solved Exam Papers Notes Notes Sample Question Papers Sample Question Papers

IGNOU NEWS

Assignment Submission Last Date Extended Till 30 June 2026 Click Here★★★IGNOU June 2026 TEE Date Sheet Released Click Here★★★

2018			Rs.
June	1	Cash sale to Ashok	18,000
June	2	Bought goods from Vinod	10,000
June	2	Paid cartage on the goods bought	200
June	3	Old newspapers sold	100
June	4	PAID Municipal taxes by cheque	900
June	4	Paid for repairs to machinery	600
June	8	Received commission by cheque	1,700