Consigned goods are recognized as revenues by the:
a. consignor when a sale to a third party has occurred.
b. consignor when the merchandise has been shipped to a consignee.
c. consignee when a sale to a third party has occurred.
d. consignor when it receives payment from consignee for goods sold.
Ans: d. consignor when it receives payment from consignee for goods sold.
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