5 Questions
In consignment, who retains full ownership of the property until the item is sold?
The person giving permission
What happens to the rights of the consignor until the item is sold or abandoned?
Rights are maintained by the consignor
What is the primary purpose of consignment?
To facilitate the sale of goods
What typically happens to the price of an item within the time of the consignment contract?
Reductions in price are common to promote the sale
What does consignment stock refer to?
Stock legally owned by one party, but held by another
Test your understanding of consignment with this quiz. Explore the concept of consignment, including its process, benefits, and key terms. Assess your knowledge of consignment in auctions, shipping, goods transfer, and consignment stores.
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