UI Post-UTME Financial Accounting 2025 (Model questions) Question 24

In consignment accounts, which of the following are CORRECTLY described?
I. Del credere commission — agent guarantees payment by customers
II. Proforma invoice — sent by the consignor before goods are dispatched
III. Account sales — statement sent by consignee showing sales and expenses
IV. Consignor — the party who receives and sells the goods on behalf of another

1. A.I, II and III only
2. B.I and III only
3. C.II and IV only
4. D.All of the above