| 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 abnormal loss on consignemnt is credited to. |
- A. Consignment account
- B. Consignment personal account
- C. Profit and loss account
- D. Goods sent on consignemnt account
|
| 3 |
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
|
| 4 |
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
|
| 5 |
Consignor is also called. |
- A. Principal
- B. Agent
- C. Debtor of the consignee
- D. Creditor of the consignee
|
| 6 |
Del-credere commission is allowed to cover. |
- A. Normal losses
- B. Abnormal losses
- C. Loss due to bad debts
- D. None of these
|
| 7 |
Consignee account is of the natur eof. |
- A. Personal account
- B. Nominal account
- C. Real account
- D. None of these
|
| 8 |
The consignment inward book or journalis matinained by. |
- A. Consignor
- B. Consignee
- C. Customer
- D. Debtors
|
| 9 |
Over riding commission is calculated on. |
- A. Cash sales only
- B. Credit sales only
- C. Total sales
- D. None of the above
|
| 10 |
Consignee is. |
- A. A principal
- B. An agent
- C. A debtor
- D. A creditor
|
