Which of the Following Is Incorrect in Relation to Consignment

Which of the following is incorrect in relation to consignment sales?

A) A consignment sale is one where the owner transfers possession of the goods but not legal title to a third party (agent) .
B) On sale of an item held on consignment, the agent remits the proceeds to the owner (normally less commission) .
C) The owner will recognise revenue on consignment sales at the time of sale of the item to the ultimate customer.
D) Consignment sales are a common way of increasing revenue at or near the end of a period.

Correct Answer:

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