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12th Principles of Accounting Chapter 3 Test

Here you can prepare 12th Class Principles of Accounting Chapter 3 Consignment Accounts Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 3 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 3 (Consignment Accounts)

This online test contains MCQs about following topics:

. Consignment Concept . Difference between Goods Consigned and Goods Sold . Important Terms and Concepts . Valuation of Unsold Stock . Normal Losses . Abnormal Losses

ICOM Part 2 Accounting Ch 3 Test
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12th class Principle of Accounting chapter 3 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 3 (Consignment Accounts)

Sr. # Questions Answers Choice
1 The consignee acts entirely on behalf of the
  • A. Debtors
  • B. Creditors
  • C. Customer
  • D. Principal or consignor
2 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
3 In the books of consignor, the loss on the consignment should be crediterd to.
  • A. Consignment account
  • B. Consigneee 's account
  • C. Profit and loss account
  • D. Gppds sent on consignemnt
4 Consignee is.
  • A. A principal
  • B. An agent
  • C. A debtor
  • D. A creditor
5 Consignee account is of the natur eof.
  • A. Personal account
  • B. Nominal account
  • C. Real account
  • D. None of these
6 In the books of consignor on reciving advance in cash from consignee should be debited to.
  • A. Cash account
  • B. Consignee account
  • C. Consignment account
  • D. None of these
7 Dell creder commission is calculated on.
  • A. Total sales
  • B. Cash sales
  • C. Credit sales
  • D. None of these
8 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
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 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

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test

S

SEO Guru

Lahore28 - Jun - 2022

14/15
03 Mins 18 Sec
J

Junaid G

Lahore20 - May - 2022

12/15
03 Mins 13 Sec
H

Hamza Abid

Abbottabad29 - Jun - 2022

12/15
10 Mins 50 Sec
J

Junaid G

Lahore20 - May - 2022

11/15
03 Mins 13 Sec
H

Hamza Abid

Abbottabad11 - Jun - 2022

11/15
10 Mins 50 Sec

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