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Ratios and OMO

Relationship ...

Question

Relationship of consignor and consignee is that of partners.

A

True

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B

False

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Solution

The correct option is B False
Consignee acts as agent who undertakes to sell the goods of consignor. Consignment occurs when goods are sent by the consignor to consignee. consignor continues to own the goods until they are sold.

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Q. The relationship between the consignee and the consignor is that of _______________.

Q. When the consignee receives the goods from the consignor, in the books of consignee __________________.

Q. Over-riding commission is a commission payable to consignee by consignor ______________.

Q. When the bill of exchange drawn by the Consignor is accepted by the Consignee which account will be credited in the books of the consignor?

Q. Account Sales is the statement sent by the consignor to the consignee.

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