12th class Principle of Accounting chapter 3 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 3 (Consignment Accounts)

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Sr.#	Question	Answer
1	The parties involves in the consignment are.	A. Two B. Three C. Four D. Five
2	Del-credere commission is allowed to cover.	A. Normal losses B. Abnormal losses C. Loss due to bad debts D. None of these
3	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.
4	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
5	The persons to whom the goods are dispatched for the purpsoe of sales is called.	A. Debtor B. Consignee C. Consignor D. None of these
6	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
7	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
8	Consignor is also called.	A. Principal B. Agent C. Debtor of the consignee D. Creditor of the consignee
9	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
10	Consignment account is in the nature of.	A. Profit and loss account B. Real account C. Personal Account D. None of these