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31 July, 15:24

An indication that the customer has not taken control of the good or service is ... (a) the selling company has right to payment for the good or service. (b) the customer has physical possession of the asset. (c) the customer has no significant risks or rewards of ownership. (d) the selling company has transferred legal title to the asset.

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  1. 31 July, 15:43
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    Answer:The answer is (a) The selling company has the right to payment for the good or service

    Explanation:

    The contract for the sale of goods can be defined as an agreement between the buyer and the seller in which the seller agree to sell the goods to the buyer in exchange for value known as money ... in sale of goods contract, there are two terms that goes to the fundamental of the contract for the sale of goods which are sale and agreement to sale.

    Sale can be defined as the situation whereby the seller has agree to sell the goods to the buyer in exchange for value known as money and the buyer has actually made payment for the goods. In this case the ownership of the goods has passed from the seller to the buyer. On the other hand, agreement to sale is when the seller has agreed to sell the goods to the buyer in exchange for money but the buyer has not actually made payment, in this case the ownership of the goods still reside with the seller of the goods.

    The ownership of the goods however will be passed to the buyer at a future date or at a time in which the conditions that goes with the contract between the buyer and the seller has been fulfilled. The basis of the contract for the sale of goods is the ownership of the goods bought by the buyer from the seller. In the contract the seller has the legal right to sue the buyer for the price when the ownership of the goods passes to the buyer.
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