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

The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.

Question # 2

Over riding commission is calculated on.

Question # 3

The abnormal loss on consignemnt is credited to.

Question # 4

Dell creder commission is calculated on.

Question # 5

The relation ship between consignor and consignee is thet of.

Question # 6

The person who sends the goods to his agent for the purpose of sale is called.

Question # 7

Account salesis submitted by.

Question # 8

Consignee is.

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

When the goods sent on consignment are sold by the consignee the account to be debited is.

Question # 11

Goods sent on consignment should be debited int he books of the consignor.

Question # 12

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

Question # 13

Del-credere commission is allowed to cover.

Question # 14

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

Question # 15

The parties involves in the consignment are.

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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 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 persons to whom the goods are dispatched for the purpsoe of sales is called.
A. Debtor
B. Consignee
C. Consignor
D. None of these
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 Abnormal loss arises due to.
A. Natural causes
B. Evaporation drying breaking in bulk
C. Pilferage , theft fire etc.
D. Some unavoidable causes
5 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
6 Consignment account is in the nature of.
A. Profit and loss account
B. Real account
C. Personal Account
D. None of these
7 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
8 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
9 The person who sends the goods to his agent for the purpose of sale is called.
A. Consignor
B. Consignee
C. Debtor
D. Creditor
10 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

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