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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
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Question # 3
Abnormal loss arises due to.
Question # 4
Consignee is.
Question # 5
Consignment signifies.
Question # 6
The parties involves in the consignment are.
Question # 7
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 8
Consignment account is in the nature of.
Question # 9
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Question # 10
Del-credere commission is allowed to cover.
Question # 11
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Question # 12
The abnormal loss on consignemnt is credited to.
Question # 13
Consignor is also called.
Question # 14
the profit on consignment in the books of the consignor should be deited to.
Question # 15
In case of del creder commission the liability of bad debts is on
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 relation ship between consignor and consignee is thet of. |
A. Buyer and seller
B. Debtorsde creditor
C. Whole seller or retailer
D. Principal and agent
|
| 2 | 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
|
| 3 | Abnormal loss arises due to. |
A. Natural causes
B. Evaporation drying breaking in bulk
C. Pilferage , theft fire etc.
D. Some unavoidable causes
|
| 4 | 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
|
| 5 | Consignee is. |
A. A principal
B. An agent
C. A debtor
D. A creditor
|
| 6 | 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
|
| 7 | 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
|
| 8 | 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
|
| 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 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.
|
Test Questions