ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test

12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 3 (Consignment Accounts)

ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test

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ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 3 (Consignment Accounts)

Sr. # Questions Answers Choice
1 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
2 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
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 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
5 Consignor is also called.
  • A. Principal
  • B. Agent
  • C. Debtor of the consignee
  • D. Creditor of the consignee
6 Del-credere commission is allowed to cover.
  • A. Normal losses
  • B. Abnormal losses
  • C. Loss due to bad debts
  • D. None of these
7 Consignee account is of the natur eof.
  • A. Personal account
  • B. Nominal account
  • C. Real account
  • D. None of these
8 The consignment inward book or journalis matinained by.
  • A. Consignor
  • B. Consignee
  • C. Customer
  • D. Debtors
9 Over riding commission is calculated on.
  • A. Cash sales only
  • B. Credit sales only
  • C. Total sales
  • D. None of the above
10 Consignee is.
  • A. A principal
  • B. An agent
  • C. A debtor
  • D. A creditor

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

Z

Zunaira Zubair

Lahore16 - Jun - 2025

10/15
02 Mins 16 Sec
A

Ali Raza

Lahore13 - Apr - 2025

10/15
05 Mins 08 Sec
Z

Zunaira Zubair

Lahore16 - Jun - 2025

9/15
02 Mins 45 Sec
S

Saad Ahmed

Lahore14 - May - 2025

8/15
03 Mins 13 Sec
P

Pioneer Pipes

Lahore11 - Jun - 2025

8/15
05 Mins 17 Sec

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