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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
the profit on consignment in the books of the consignor should be deited to.
Question # 2
Commission due to the consignee is calculated on.
Question # 3
Consignee is.
Question # 4
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 5
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 6
Consignee account is of the natur eof.
Question # 7
Consignor is also called.
Question # 8
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 9
The relation ship between consignor and consignee is thet of.
Question # 10
The consignment inward book or journalis matinained by.
Question # 11
In consginee's books the payment of expense by consignee should be debited to
Question # 12
The person who sends the goods to his agent for the purpose of sale is called.
Question # 13
In the books of consignor, the loss on the consignment should be crediterd to.
Question # 14
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Question # 15
The unsold stock is valued at
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
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F Fazilat Official 05 - Dec - 2025 03 Min 41 Sec 14/15 -
T Taha Ali 07 - May - 2024 03 Min 08 Sec 13/15 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 3 | 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.
|
| 4 | Commission due to the consignee is calculated on. |
A. Credit sales only
B. Cash sales only
C. Total sales
D. None of these
|
| 5 | The consignee acts entirely on behalf of the |
A. Debtors
B. Creditors
C. Customer
D. Principal or consignor
|
| 6 | 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
|
| 7 | The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to. |
A. Consignment account
B. Cash account
C. Consignor account
D. None of these
|
| 8 | Consignee is. |
A. A principal
B. An agent
C. A debtor
D. A creditor
|
| 9 | Del-credere commission is allowed to cover. |
A. Normal losses
B. Abnormal losses
C. Loss due to bad debts
D. None of these
|
| 10 | 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
|
Test Questions