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State the salient features of joint venture. Distinguish it from consignment.

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Introduction A joint venture is a temporary business arrangement where two or more parties come together to undertake a specific project or business activity. Each party contributes resources and shares profits and losses in an agreed ratio. Though often confused with consignment, a joint venture has distinct characteristics and legal implications. Main Body Salient Features […]

State the salient features of joint venture. Distinguish it from consignment. Read More »

“Consignment is the same thing as sale”. Discuss.

Introduction The terms “consignment” and “sale” are often used interchangeably in everyday language. However, in accounting and commerce, they have distinct meanings and legal implications. While both involve the transfer of goods, the ownership, risk, and accounting treatment differ significantly. This article explains the differences and clarifies why consignment is not the same as a