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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test
00:00
Question # 1
the profit on consignment in the books of the consignor should be deited to.
Question # 2
The consignment outward books or journal is maintained by.
Question # 3
The parties involves in the consignment are.
Question # 4
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 5
The relation ship between consignor and consignee is thet of.
Question # 6
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 7
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 8
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Question # 9
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 10
When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to.
Question # 11
In consginee's books the payment of expense by consignee should be debited to
Question # 12
Over riding commission is calculated on.
Question # 13
Del-credere commission is allowed to cover.
Question # 14
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Question # 15
The unsold stock is valued at
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
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T Taha Ali 07 - May - 2024 03 Min 08 Sec 13/15 -
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Z Zafar Ali 07 - Jun - 2024 02 Min 52 Sec 10/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In consignee's books, the acceptance of a bil of echange by consignee will be debited to. |
A. Trading account
B. Bill payable accont
C. Consignor account
D. Consignment account
|
| 2 | In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as. |
A. Salary
B. Wages
C. Profit
D. Commission
|
| 3 | For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor. |
A. Cash account
B. Consignee personal account
C. Consignment account
D. None of the above
|
| 4 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 5 | Consignment account is in the nature of. |
A. Profit and loss account
B. Real account
C. Personal Account
D. None of these
|
| 6 | The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called. |
A. Sales account
B. Performa invoice
C. Account sales
D. None of these
|
| 7 | Consignee is. |
A. A principal
B. An agent
C. A debtor
D. A creditor
|
| 8 | In case of del creder commission the liability of bad debts is on |
A. Consignee
B. Consignor
C. Both on consignee and consignor
D. None of the above
|
| 9 | When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to. |
A. Cash account
B. Consignor 's personal account
C. Consignment account
D. None of these
|
| 10 | The parties involves in the consignment are. |
A. Two
B. Three
C. Four
D. Five
|
Test Questions