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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 parties involves in the consignment are.
Question # 2
The consignment outward books or journal is maintained by.
Question # 3
Abnormal loss arises due to.
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 relation ship between consignor and consignee is thet of.
Question # 6
For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.
Question # 7
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Question # 8
Account salesis submitted by.
Question # 9
the profit on consignment in the books of the consignor should be deited to.
Question # 10
In the books of consignor on reciving advance in cash from consignee should be debited to.
Question # 11
The person who sends the goods to his agent for the purpose of sale is called.
Question # 12
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
Question # 13
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 14
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 15
The abnormal loss on consignemnt is credited 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 -
T Taha Ali 07 - May - 2024 03 Min 08 Sec 13/15 -
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R Raja Musa Sohail 08 - May - 2024 02 Min 39 Sec 12/15 -
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M Miqi queen miqi queen 31 - May - 2023 03 Min 15 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 | Abnormal loss arises due to. |
A. Natural causes
B. Evaporation drying breaking in bulk
C. Pilferage , theft fire etc.
D. Some unavoidable causes
|
| 3 | 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.
|
| 4 | 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
|
| 5 | 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
|
| 6 | 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
|
| 7 | 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
|
| 8 | 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.
|
| 9 | The consignee acts entirely on behalf of the |
A. Debtors
B. Creditors
C. Customer
D. Principal or consignor
|
| 10 | 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
|
Test Questions
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