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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 consignee acts entirely on behalf of the
Question # 2
Consignment account is in the nature of.
Question # 3
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 4
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 # 5
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 6
The relation ship between consignor and consignee is thet of.
Question # 7
the loss whihc arises due to natural causes such as evaporation etc is called.
Question # 8
Consignee account is of the natur eof.
Question # 9
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 10
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
Question # 11
Consignee is.
Question # 12
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 13
The consignment inward book or journalis matinained by.
Question # 14
Consignor is also called.
Question # 15
In consginee's books the payment of expense by consignee should be debited to
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 | Consignee is. |
A. A principal
B. An agent
C. A debtor
D. A creditor
|
| 2 | The consignment inward book or journalis matinained by. |
A. Consignor
B. Consignee
C. Customer
D. Debtors
|
| 3 | 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
|
| 4 | 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.
|
| 5 | Consignment account is in the nature of. |
A. Profit and loss account
B. Real account
C. Personal Account
D. None of these
|
| 6 | The consignee acts entirely on behalf of the |
A. Debtors
B. Creditors
C. Customer
D. Principal or consignor
|
| 7 | The person who sends the goods to his agent for the purpose of sale is called. |
A. Consignor
B. Consignee
C. Debtor
D. Creditor
|
| 8 | Consignment signifies. |
A. Goods despatched by the owner to his agent
B. Goods forwarded by the creditor to his debtor
C. Goods forwarded from one place to another
D. Goods sent by the owner to his agent for the purpose of sale.
|
| 9 | 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
|
| 10 | 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
|
Test Questions