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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 profit on consignment in the books of the consignor should be deited to.
Question # 2
Commission due to the consignee is calculated on.
Question # 3
The person who sends the goods to his agent for the purpose of sale is called.
Question # 4
When the goods sent on consignment are sold by the consignee the account to be debited is.
Question # 5
In the books of consignee the sale of goods by the consigee credited to.
Question # 6
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Question # 7
In the books of consignor, the loss on the consignment should be crediterd to.
Question # 8
Consignor is also called.
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
The unsold stock is valued at
Question # 12
In consginee's books the payment of expense by consignee should be debited to
Question # 13
Consignee is.
Question # 14
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Question # 15
Abnormal loss arises due to.
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
Top Scorers Of Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test" 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 -
I ifrah mirza 29 - Apr - 2024 03 Min 41 Sec 13/15 -
F Fatima Waseem 09 - Dec - 2024 05 Min 03 Sec 13/15 -
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S Sheikh Zadi 13 - May - 2023 01 Min 45 Sec 12/15 -
R Raja Musa Sohail 08 - May - 2024 02 Min 39 Sec 12/15 -
A Amjad ali rajper 25 - Feb - 2024 03 Min 51 Sec 12/15 -
F Fatima Butt 03 - Aug - 2023 04 Min 12 Sec 12/15 -
M Mubasher Ali 18 - May - 2023 05 Min 18 Sec 12/15 -
M Malaika MA 03 - Aug - 2024 02 Min 07 Sec 10/15 -
T Tyab ali Ali 03 - May - 2023 02 Min 43 Sec 10/15 -
Z Zafar Ali 07 - Jun - 2024 02 Min 52 Sec 10/15 -
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 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 parties involves in the consignment are. |
A. Two
B. Three
C. Four
D. Five
|
| 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 | 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
|
| 5 | When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to. |
A. Cash account
B. Consignor 's personal account
C. Consignment account
D. None of these
|
| 6 | 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
|
| 7 | 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.
|
| 8 | In consignee's books, the acceptance of a bil of echange by consignee will be debited to. |
A. Trading account
B. Bill payable accont
C. Consignor account
D. Consignment account
|
| 9 | Dell creder commission is calculated on. |
A. Total sales
B. Cash sales
C. Credit sales
D. None of these
|
| 10 | 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
|
Test Questions
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