Question

Explain goods sold on approval basis??

Answer 1

Hey friend!!!
Your answer is here:---
If the goods are sent on approval basis they should not be treated as actual sales till they are approved by the costumers.When goods were sold,we have pass the entry for actual sales .Therefore, At the end of the year,if the goods are still lying with the costumers for which approval had not yet received.
Hope it may help u buddy!!