What is a "sale or return" contract?
What will be an ideal response?
In a sale or return contract, the goods are delivered to the buyer primarily for resale with the understanding that the buyer has the right to return them. Unless the parties agreed to the contrary, title and risk of loss rest with the buyer. Return of the goods is at the buyer's risk and expense, and the buyer's creditors can attach the goods while they are in the buyer's possession. Placing the risk on the buyer in these cases recognizes that sale or return contracts are generally commercial transactions.
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If demand is elastic, will sellers consider lowering their prices? Explain your answer
What will be an ideal response?
List five common types of buyer concerns
What will be an ideal response?
A company's general ledger provides a chronological record of its business transactions.
Answer the following statement true (T) or false (F)
Assuming there are no other significant considerations, a product line with a negative contribution margin should be dropped
Indicate whether the statement is true or false