Multiple Choice
Use the following information to solve the following questions:
During 2020 Ebert Corp. transferred inventory to Siskel Corp. and agreed to repurchase the merchandise early in 2021. Siskel then used the inventory as collateral to borrow from Southern Bank, remitting the proceeds to Ebert. In 2021 when Ebert repurchased the inventory, Siskel used the proceeds to repay its bank loan.
-This transaction is known as a(n)
A) consignment.
B) instalment sale.
C) product financing arrangement.
D) sale with delayed payment terms.
Correct Answer:
Verified
Correct Answer:
Verified
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