In consignment sales, the consignee... THE ACCOUNTING HELP?

L

Luck

New member
In consignment sales, the consignee

- prepares an “account report” for the consignor which shows sales, expenses, and cash receipts.
- records a liability for the merchandise held on consignment.
- records the merchandise as an asset on its books.
- recognizes revenue when it ships merchandise to the consignor.

I really think its A but not too sure.. so please help me

thanks a lot
 
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