×

12th Principles of Accounting Chapter 3 Test

Here you can prepare 12th Class Principles of Accounting Chapter 3 Consignment Accounts Test. Click the button for 100% free full practice test.

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

This online test contains MCQs about following topics:

. Consignment Concept . Difference between Goods Consigned and Goods Sold . Important Terms and Concepts . Valuation of Unsold Stock . Normal Losses . Abnormal Losses

ICOM Part 2 Accounting Ch 3 Test
ic

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

Sr. # Questions Answers Choice
1 The remuneration of the consignee for selling the goods of the consignor is called
  • A. Salary
  • B. Interest
  • C. Dividend
  • D. Commission
2 Consignee
  • A. Bear expenses or losses in consignment
  • B. Share profit made on the sale of goods
  • C. Receives his commission from the consignor
  • D. All of the above
3 The relationship between seller and buyer of goods is that of a
  • A. Principal and agent
  • B. Debtor and creditor
  • C. Banker and customer
  • D. Consignor and customer
4 The manufacturer or wholesaler who sends his goods for sale purpose is known as
  • A. Consignee
  • B. Consignor
  • C. Agent
  • D. Drawer
5 The consignee sells the goods on behalf of
  • A. Drawer
  • B. Drawee
  • C. Consignor
  • D. Agent
6 Consignee is
  • A. Principal
  • B. Owner
  • C. Debtor of the consignee
  • D. None of these
7 The act of sending goods by owner to his agent for sale is called
  • A. Consignment
  • B. Sales
  • C. Purchases
  • D. Partnership
8 It is paid to consignee if he take risk of bad debts
  • A. Commission
  • B. General commission
  • C. Ordinary commission
  • D. Delcredre commission
9 The register which is maintained by consignor to keep full record of goods consigned is called
  • A. Consignment outward book
  • B. Consignment inward book
  • C. Consignment purchases book
  • D. Consignment in transit book
10 In consignment all the expenses, either paid by the consignor himself or by the consignee are borne by the
  • A. Consignor
  • B. Consignee
  • C. Purchases
  • D. All of these

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test

N

Noor Fatima

Lahore13 - Jan - 2022

15/15
01 Mins 27 Sec
B

BASAAM

Lahore15 - Jan - 2022

14/15
01 Mins 37 Sec
S

Shakir Ahned

Lahore12 - Dec - 2021

14/15
01 Mins 55 Sec
A

Abdulah Iftikhar

Lahore02 - Dec - 2021

14/15
03 Mins 03 Sec
L

Laiba Qureshi

Lahore19 - Jan - 2022

14/15
07 Mins 24 Sec
A

Abdulah Iftikhar

Lahore03 - Dec - 2021

13/15
01 Mins 12 Sec
N

Noor Fatima

Lahore13 - Jan - 2022

13/15
01 Mins 54 Sec
M

Mahnoor Fatima

Lahore19 - Jan - 2022

13/15
06 Mins 21 Sec
M

Maryam Nadeem

Lahore18 - Jan - 2022

12/15
02 Mins 24 Sec
M

Muhammad Rashid

Lahore05 - Dec - 2021

12/15
04 Mins 29 Sec
U

Uswah Ahassna

Lahore19 - Jan - 2022

12/15
04 Mins 44 Sec
B

BASAAM

Lahore15 - Jan - 2022

10/15
03 Mins 13 Sec
M

Muhammad Yaseen

Lahore31 - Dec - 2021

10/15
08 Mins 14 Sec
K

Kashaf Sehar

Lahore19 - Jan - 2022

9/15
03 Mins 23 Sec
S

Shakir Ahned

Lahore12 - Dec - 2021

8/15
02 Mins 43 Sec

Share your comments questions here
Sort By:

Find the best institute for yourself!

We need a few details from you to suggest you relevant institutes & create your free profile

Online Cricket World Cup Quiz

10 Questions
Start Quiz
X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer