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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
For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.
Question # 2
Account salesis submitted by.
Question # 3
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Question # 4
In the books of consignor on reciving advance in cash from consignee should be debited to.
Question # 5
Consignment signifies.
Question # 6
Goods sent on consignment should be debited int he books of the consignor.
Question # 7
the loss whihc arises due to natural causes such as evaporation etc is called.
Question # 8
In consginee's books the payment of expense by consignee should be debited to
Question # 9
Consignment account is in the nature of.
Question # 10
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 11
Commission due to the consignee is calculated on.
Question # 12
The consignment outward books or journal is maintained by.
Question # 13
The relation ship between consignor and consignee is thet of.
Question # 14
The parties involves in the consignment are.
Question # 15
the profit on consignment in the books of the consignor should be deited to.
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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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In consginee's books the payment of expense by consignee should be debited to |
A. Consignment account
B. Consignnors account
C. Cash account
D. None of these
|
| 2 | Account salesis submitted by. |
A. Teh consignor to the consignee
B. The consignee to the consignor
C. the debtor to the creditors
D. The principle to his agent
|
| 3 | 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
|
| 4 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 5 | The parties involves in the consignment are. |
A. Two
B. Three
C. Four
D. Five
|
| 6 | the loss whihc arises due to natural causes such as evaporation etc is called. |
A. Abnormal loss
B. Normal loss
C. Additional loss
D. None of these
|
| 7 | The abnormal loss on consignemnt is credited to. |
A. Consignment account
B. Consignment personal account
C. Profit and loss account
D. Goods sent on consignemnt account
|
| 8 | The person who sends the goods to his agent for the purpose of sale is called. |
A. Consignor
B. Consignee
C. Debtor
D. Creditor
|
| 9 | For the stock unsoled with the consignee wil the debited in the books of the consignor. |
A. Stock on consignment account
B. Consignment
C. Consignee account
D. None of the above
|
| 10 | The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to. |
A. Consignment account
B. Cash account
C. Consignor account
D. None of these
|
Test Questions