Sale of Goods on approval or return basis

Goods sold on approval or return basis refers to goods delivered to customers who have an option to retain or return them within a specified period.

1. Sale of Goods on approval or return basis meraskill .com Online preparation for CA CPT exam

2. Meaning Goods sold on approval or return basis refers to goods delivered to customers who have an option to retain or return them within a specified period. meraskill .com Online preparation for CA CPT exam

3. What happens after goods are sent on approval basis They can approve- Sales gets completed They can return - Reverse sale if recorded , take in stock No intimation- Reverse sale if recorded , take in stock meraskill .com Online preparation for CA CPT exam

4. When is Sale recognised ? Sale will be recognized only when: buyer approves the goods buyer indicates in some way that he has accepted the sale buyer does not return the goods within specified period meraskill .com Online preparation for CA CPT exam

5. Why are goods sold on approval or return basis ? to boost sales to introduce a new product to capture a larger share of the market meraskill .com Online preparation for CA CPT exam

6. Watch Full Video course & take quiz visit http://www.meraskill.com/cacpt/accounts/salesonapprovalorreturnbasis meraskill .com Online preparation for CA CPT exam