Which term describes a product transfer between persons in which a change of ownership occurs?

• A. Audit
• B. Transaction
• C. Shipment
• D. Inspection

Answer: (B)

Ownership transfer occurs when two parties exchange goods for value, creating a sale through which ownership passes from seller to buyer. This moment of exchange is what a transaction captures in supply chain and inventory contexts: it’s the formal process that not only moves the goods but also transfers ownership and typically involves payment or a formal agreement.

In pharmacy practice, thinking about a transaction helps distinguish it from related ideas. An audit is simply reviewing records and data; it doesn’t involve moving goods or changing ownership. A shipment relates to the physical movement of goods, which can happen with or without a change of ownership depending on terms. An inspection is a quality check performed on goods and likewise doesn’t necessarily involve ownership transfer.

So the term that best fits “a product transfer between persons in which a change of ownership occurs” is the transaction.