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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
Goods sent on consignment should be debited int he books of the consignor.
Question # 2
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.
Question # 3
Abnormal loss arises due to.
Question # 4
For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.
Question # 5
Consignment account is in the nature of.
Question # 6
The abnormal loss on consignemnt is credited to.
Question # 7
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Question # 8
In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the.
Question # 9
Consignee is.
Question # 10
In the books of consignee the sale of goods by the consigee credited to.
Question # 11
Consignor is also called.
Question # 12
the loss whihc arises due to natural causes such as evaporation etc is called.
Question # 13
Consignment signifies.
Question # 14
In case of del creder commission the liability of bad debts is on
Question # 15
Consignee account is of the natur eof.
ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test
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F Fazilat Official 05 - Dec - 2025 03 Min 41 Sec 14/15 -
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ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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.
|
| 2 | Consignee is. |
A. A principal
B. An agent
C. A debtor
D. A creditor
|
| 3 | The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called. |
A. Sales account
B. Performa invoice
C. Account sales
D. None of these
|
| 4 | Abnormal loss arises due to. |
A. Natural causes
B. Evaporation drying breaking in bulk
C. Pilferage , theft fire etc.
D. Some unavoidable causes
|
| 5 | 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
|
| 6 | 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
|
| 7 | 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
|
| 8 | 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
|
| 9 | 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
|
| 10 | the profit on consignment in the books of the consignor should be deited to. |
A. Consignnment account
B. Profit and loss account
C. Consignee 's account
D. None of these
|
Test Questions
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