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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 losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 3
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
Question # 4
Consignment account is in the nature of.
Question # 5
In the books of consignor on reciving advance in cash from consignee should be debited to.
Question # 6
The relation ship between consignor and consignee is thet of.
Question # 7
The unsold stock is valued at
Question # 8
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 9
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 10
Consignor is also called.
Question # 11
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 # 12
The consignee acts entirely on behalf of the
Question # 13
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 14
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Question # 15
In case of del creder commission the liability of bad debts is on
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 | 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
|
| 2 | Consignor is also called. |
A. Principal
B. Agent
C. Debtor of the consignee
D. Creditor of the consignee
|
| 3 | 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
|
| 4 | 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
|
| 5 | 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
|
| 6 | 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
|
| 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 | 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
|
| 9 | 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
|
| 10 | 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
|
Test Questions
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