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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
In case of del creder commission the liability of bad debts is on
Question # 2
Consignor is also called.
Question # 3
Goods sent on consignment should be debited int he books of the consignor.
Question # 4
Dell creder commission is calculated on.
Question # 5
Del-credere commission is allowed to cover.
Question # 6
Account salesis submitted by.
Question # 7
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 8
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 9
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Question # 10
The abnormal loss on consignemnt is credited to.
Question # 11
In the books of consignor on reciving advance in cash from consignee should be debited to.
Question # 12
Consignee is.
Question # 13
In the books of consignee the sale of goods by the consigee credited to.
Question # 14
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 # 15
The consignment outward books or journal is maintained by.
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Consignment account is in the nature of. |
A. Profit and loss account
B. Real account
C. Personal Account
D. None of these
|
| 3 | Del-credere commission is allowed to cover. |
A. Normal losses
B. Abnormal losses
C. Loss due to bad debts
D. None of these
|
| 4 | Consignee account is of the natur eof. |
A. Personal account
B. Nominal account
C. Real account
D. None of these
|
| 5 | Consignment signifies. |
A. Goods despatched by the owner to his agent
B. Goods forwarded by the creditor to his debtor
C. Goods forwarded from one place to another
D. Goods sent by the owner to his agent for the purpose of sale.
|
| 6 | The consignee acts entirely on behalf of the |
A. Debtors
B. Creditors
C. Customer
D. Principal or consignor
|
| 7 | 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
|
| 8 | 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.
|
| 9 | The consignment outward books or journal is maintained by. |
A. Customers
B. Consignor
C. Consignee
D. Debtors
|
| 10 | An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called. |
A. Bonus
B. Commission
C. Del creder commision
D. Credit commission
|
Test Questions
