When it is possible that stock can lye with third party? I read it in verification of assets-stock lying with third party. But i cannot understand anything what it wants to tell at all.Is it also same like consignment stock or goods sent on sales or return basis? Please explain me this fully.Thank you every one whosoever replies me.
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i cant understand
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Most common example are, Stock lying with:
1. Customer where bill has not been raised.
2. Warehouse for storage.
3. Supplier where bill has been received but material has not been delivered.
4. Agent.
5. Sellers/Showrooms where it sent on payment on sale basis (Electronic & car cos practice it).
6. Transporter (In transit).
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