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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
Over riding commission is calculated on.
Question # 2
The parties involves in the consignment are.
Question # 3
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Question # 4
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 5
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Question # 6
Consignment account is in the nature of.
Question # 7
In consginee's books the payment of expense by consignee should be debited to
Question # 8
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 9
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
Question # 10
The relation ship between consignor and consignee is thet of.
Question # 11
In the books of consignee the sale of goods by the consigee credited to.
Question # 12
The abnormal loss on consignemnt is credited to.
Question # 13
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 14
The unsold stock is valued at
Question # 15
Account salesis submitted by.
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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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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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 | 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.
|
| 2 | 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
|
| 3 | In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the. |
A. Consignor
B. purchaser
C. Consignee
D. None of these
|
| 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 | For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to. |
A. Commission account
B. Consignee's personal account
C. Consignement account
D. None of these
|
| 6 | 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
|
| 7 | Del-credere commission is allowed to cover. |
A. Normal losses
B. Abnormal losses
C. Loss due to bad debts
D. None of these
|
| 8 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 9 | Consignee account is of the natur eof. |
A. Personal account
B. Nominal account
C. Real account
D. None of these
|
| 10 | 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
|
Test Questions
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