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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
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 2
The parties involves in the consignment are.
Question # 3
The abnormal loss on consignemnt is credited to.
Question # 4
the profit on consignment in the books of the consignor should be deited to.
Question # 5
Consignment signifies.
Question # 6
The unsold stock is valued at
Question # 7
Consignee is.
Question # 8
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Question # 9
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 # 10
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 11
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 12
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 13
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Question # 14
Abnormal loss arises due to.
Question # 15
The relation ship between consignor and consignee is thet of.
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test" MCQ`s Test
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Z Zainab Malik 02 - Jun - 2026 02 Min 43 Sec 14/15 -
S Subtain Ahmed Raza 15 - Jul - 2023 02 Min 56 Sec 14/15 -
F Fazilat Official 05 - Dec - 2025 03 Min 41 Sec 14/15 -
T Taha Ali 07 - May - 2024 03 Min 08 Sec 13/15 -
I ifrah mirza 29 - Apr - 2024 03 Min 41 Sec 13/15 -
F Fatima Waseem 09 - Dec - 2024 05 Min 03 Sec 13/15 -
T Taiba Siddique 31 - May - 2024 00 Min 08 Sec 12/15 -
S Sheikh Zadi 13 - May - 2023 01 Min 45 Sec 12/15 -
R Raja Musa Sohail 08 - May - 2024 02 Min 39 Sec 12/15 -
A Amjad ali rajper 25 - Feb - 2024 03 Min 51 Sec 12/15 -
F Fatima Butt 03 - Aug - 2023 04 Min 12 Sec 12/15 -
M Mubasher Ali 18 - May - 2023 05 Min 18 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 07 Sec 10/15 -
S sameer abbas 06 - May - 2026 02 Min 32 Sec 10/15 -
Z Zafar Ali 07 - Jun - 2024 02 Min 52 Sec 10/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When the goods sent on consignment are sold by the consignee the account to be debited is. |
A. Cash account
B. Consignee personal account
C. Consignment account
D. None of these
|
| 2 | 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
|
| 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 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
| 5 | 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
|
| 6 | 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
|
| 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 | The person who sends the goods to his agent for the purpose of sale is called. |
A. Consignor
B. Consignee
C. Debtor
D. Creditor
|
| 9 | The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called. |
A. Sales account
B. Performa invoice
C. Account sales
D. None of these
|
| 10 | 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
|
Test Questions