how-do-consigned-goods-affect-the-financial-statements-of-the-consignee

Question

How do consigned goods affect the financial statements of the consignee?

Accepted Answer

Consigned goods do not appear in the consignee's inventory.

Answer

Consigned goods are recorded as revenue by the consignee.

Answer

Consigned goods are recorded as an asset by the consignee.

Answer

Consigned goods increase the consignee's liabilities.