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

MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test"

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

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Question # 1

Abnormal loss arises due to.

Question # 2

Commission due to the consignee is calculated on.

Question # 3

In consginee's books the payment of expense by consignee should be debited to

Question # 4

An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.

Question # 5

In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the.

Question # 6

In case of del creder commission the liability of bad debts is on

Question # 7

Account salesis submitted by.

Question # 8

In the books of consignee the sale of goods by the consigee credited to.

Question # 9

Consignee account is of the natur eof.

Question # 10

Dell creder commission is calculated on.

Question # 11

The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.

Question # 12

Over riding commission is calculated on.

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

In the books of consignor on reciving advance in cash from consignee should be debited to.

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Principles of Accounting
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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 consignee acts entirely on behalf of the
A. Debtors
B. Creditors
C. Customer
D. Principal or consignor
2 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
3 Commission due to the consignee is calculated on.
A. Credit sales only
B. Cash sales only
C. Total sales
D. None of these
4 Over riding commission is calculated on.
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
5 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
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 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
8 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
9 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
10 Goods sent on consignment should be debited int he books of the consignor.
A. Consignee account
B. Consignment account
C. Goods sen ton consignment
D. Consignor account

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