Sale of Goods on Approval or Return Basis
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 October 2010
what is "Sale of Goods on Approval or Return Basis"
sudhakar ca cwa
(Expert)
19 October 2010
in order to market their products some companies use this system
Under this system first the company sends the goods to customer on the condition that you need to intimate us whether u will like to take those goods or not. if not please return the goods
accounting treatment
income is recognised only when u get the acceptence from customer
suppose at the end of the period if the stock lies at the customer then we will consider it as CLOSING STOCK
Under this system first the company sends the goods to customer on the condition that you need to intimate us whether u will like to take those goods or not. if not please return the goods
accounting treatment
income is recognised only when u get the acceptence from customer
suppose at the end of the period if the stock lies at the customer then we will consider it as CLOSING STOCK
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