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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 expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 2
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Question # 3
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 4
Account salesis submitted by.
Question # 5
In consginee's books the payment of expense by consignee should be debited to
Question # 6
The consignment outward books or journal is maintained by.
Question # 7
Over riding commission is calculated on.
Question # 8
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
Question # 9
Commission due to the consignee is calculated on.
Question # 10
In the books of consignee the sale of goods by the consigee credited to.
Question # 11
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 12
Goods sent on consignment should be debited int he books of the consignor.
Question # 13
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 # 14
The person who sends the goods to his agent for the purpose of sale is called.
Question # 15
the loss whihc arises due to natural causes such as evaporation etc is called.
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test" MCQ`s Test
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Z Zainab Malik 02 - Jun - 2026 02 Min 43 Sec 14/15 -
S Subtain Ahmed Raza 15 - Jul - 2023 02 Min 56 Sec 14/15 -
F Fazilat Official 05 - Dec - 2025 03 Min 41 Sec 14/15 -
T Taha Ali 07 - May - 2024 03 Min 08 Sec 13/15 -
I ifrah mirza 29 - Apr - 2024 03 Min 41 Sec 13/15 -
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T Taiba Siddique 31 - May - 2024 00 Min 08 Sec 12/15 -
S Sheikh Zadi 13 - May - 2023 01 Min 45 Sec 12/15 -
R Raja Musa Sohail 08 - May - 2024 02 Min 39 Sec 12/15 -
A Amjad ali rajper 25 - Feb - 2024 03 Min 51 Sec 12/15 -
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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 the books of consignee the sale of goods by the consigee credited to. |
A. Sales account
B. Consignor account
C. Consignee's account
D. None of these
|
| 2 | Abnormal loss arises due to. |
A. Natural causes
B. Evaporation drying breaking in bulk
C. Pilferage , theft fire etc.
D. Some unavoidable causes
|
| 3 | The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are. |
A. Normal losses
B. Additional loss
C. Abnormal losses
D. Both abnormal and normal loss
|
| 4 | The parties involves in the consignment are. |
A. Two
B. Three
C. Four
D. Five
|
| 5 | Consignee is. |
A. A principal
B. An agent
C. A debtor
D. A creditor
|
| 6 | The person who sends the goods to his agent for the purpose of sale is called. |
A. Consignor
B. Consignee
C. Debtor
D. Creditor
|
| 7 | The unsold stock is valued at |
A. Original cost of the goods
B. Market value of the goods
C. Orginal cost price + proportionate direct expense incutred by the both consignor and consignee
D. Cost of market pric ewhich wver is the lower.
|
| 8 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 9 | In the books of consignor, the loss on the consignment should be crediterd to. |
A. Consignment account
B. Consigneee 's account
C. Profit and loss account
D. Gppds sent on consignemnt
|
| 10 | When the goods sent on consignment are sold by the consignee the account to be debited is. |
A. Cash account
B. Consignee personal account
C. Consignment account
D. None of these
|
Test Questions