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Cost of Goods Sold

X send goods ...

Question

X send goods to Y to be sold by Y at his own risk and cost. This is a case of _____________.

A

partnership business

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B

limited liability partnership

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C

sales

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D

joint venture

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Solution

The correct option is C sales
Ownership/title of the goods is passed to the buyer if there is a legal sales done. Once the goods is passed to the buyer against sale, it is the responsibility of buyer to sale the same it his own risk.

X sends the goods to Y which need to be sold by Y at his own risk and cost is a case of sale.

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