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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
In the books of consignor on reciving advance in cash from consignee should be debited to.
Question # 2
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 3
In consginee's books the payment of expense by consignee should be debited to
Question # 4
The consignee acts entirely on behalf of the
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
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 8
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Question # 9
In the books of consignee the sale of goods by the consigee credited to.
Question # 10
The consignment inward book or journalis matinained by.
Question # 11
Consignment signifies.
Question # 12
Abnormal loss arises due to.
Question # 13
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 # 14
The person who sends the goods to his agent for the purpose of sale is called.
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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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | the profit on consignment in the books of the consignor should be deited to. |
A. Consignnment account
B. Profit and loss account
C. Consignee 's account
D. None of these
|
| 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 | The consignee acts entirely on behalf of the |
A. Debtors
B. Creditors
C. Customer
D. Principal or consignor
|
| 4 | In the books of consignor on reciving advance in cash from consignee should be debited to. |
A. Cash account
B. Consignee account
C. Consignment account
D. None of these
|
| 5 | 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
|
| 6 | The parties involves in the consignment are. |
A. Two
B. Three
C. Four
D. Five
|
| 7 | 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
|
| 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 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 10 | In the books of consignee the sale of goods by the consigee credited to. |
A. Sales account
B. Consignor account
C. Consignee's account
D. None of these
|
Test Questions