Question # 1

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

None of these

The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.

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Consignment account

Cash account

Consignor account

None of these

For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.

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Commission account

Consignee's personal account

Consignement account

None of these

The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.

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Normal losses

Additional loss

Abnormal losses

Both abnormal and normal loss

The abnormal loss on consignemnt is credited to.

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Consignment account

Consignment personal account

Profit and loss account

Goods sent on consignemnt account

Abnormal loss arises due to.

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Natural causes

Evaporation drying breaking in bulk

Pilferage , theft fire etc.

Some unavoidable causes

Consignment account is in the nature of.

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Profit and loss account

Real account

Personal Account

None of these

Goods sent on consignment should be debited int he books of the consignor.

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Consignee account

Consignment account

Goods sen ton consignment

Consignor account

The parties involves in the consignment are.

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Two

Three

Four

Five

The consignee acts entirely on behalf of the

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Debtors

Creditors

Customer

Principal or consignor

For the stock unsoled with the consignee wil the debited in the books of the consignor.

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Stock on consignment account

Consignment

Consignee account

None of the above

The persons to whom the goods are dispatched for the purpsoe of sales is called.

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Debtor

Consignee

Consignor

None of these

In the books of consignor on reciving advance in cash from consignee should be debited to.

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Cash account

Consignee account

Consignment account

None of these

The unsold stock is valued at

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Original cost of the goods

Market value of the goods

Orginal cost price + proportionate direct expense incutred by the both consignor and consignee

Cost of market pric ewhich wver is the lower.

the profit on consignment in the books of the consignor should be deited to.

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Consignnment account

Profit and loss account

Consignee 's account

None of these

In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.

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Salary

Wages

Profit

Commission

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