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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 periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 2
The parties involves in the consignment are.
Question # 3
The relation ship between consignor and consignee is thet of.
Question # 4
Consignment account is in the nature of.
Question # 5
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 6
Consignee account is of the natur eof.
Question # 7
The unsold stock is valued at
Question # 8
the loss whihc arises due to natural causes such as evaporation etc is called.
Question # 9
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
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
Goods sent on consignment should be debited int he books of the consignor.
Question # 12
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Question # 13
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 14
In consginee's books the payment of expense by consignee should be debited to
Question # 15
In the books of consignor on reciving advance in cash from consignee should be debited to.
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
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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 -
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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 | The parties involves in the consignment are. |
A. Two
B. Three
C. Four
D. Five
|
| 2 | 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
|
| 3 | In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as. |
A. Salary
B. Wages
C. Profit
D. Commission
|
| 4 | Consignment account is in the nature of. |
A. Profit and loss account
B. Real account
C. Personal Account
D. None of these
|
| 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 | Abnormal loss arises due to. |
A. Natural causes
B. Evaporation drying breaking in bulk
C. Pilferage , theft fire etc.
D. Some unavoidable causes
|
| 7 | Account salesis submitted by. |
A. Teh consignor to the consignee
B. The consignee to the consignor
C. the debtor to the creditors
D. The principle to his agent
|
| 8 | In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the. |
A. Consignor
B. purchaser
C. Consignee
D. None of these
|
| 9 | 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
|
| 10 | Over riding commission is calculated on. |
A. Cash sales only
B. Credit sales only
C. Total sales
D. None of the above
|
Test Questions
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