what is consignment account?
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Consignment accounting is a term used to refer to an arrangement whereby goods are sent by their owner (consignor) to an agent (consignee) who holds and sells the goods on behalf of the owner for a commission. It is important to understand that the agent never owns the goods....
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Answer:an account for goods that is not sent to a person or a company that is not the owner but is responsible for selling them or returning them to the owner if they are not sold.
the value of goods that are sent on consignment are changed to consignment account
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