ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
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Shipments of goods are arranged under agreement that payment and goods should be sold immediately
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Shipments of goods are arranged under agreement that payment be made after goods are sold by a specified period.
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Shipments of goods by a specified period.
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None of the above
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Detailed explanation-1: -In a consignment process, it encompasses the sending of goods from a consignor to a consignee. The person who ships the goods is the consignor (exporter), while the receiver is the consignee (importer).
Detailed explanation-2: -In short, consignment is a type of business arrangement where one business (the consignor) agrees to place its goods into the inventory of a second party (the consignee) either for a specified period of time or simply until they are sold.
Detailed explanation-3: -Consignment is an arrangement between a reseller (consignee) and their supplier (consignor), that allows the reseller to pay for their products after the products have been sold.
Detailed explanation-4: -Mortgage of goods Was this answer helpful?