Question # 1

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 parties involves in the consignment are.

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Two

Three

Four

Five

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

In case of del creder commission the liability of bad debts is on

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Consignee

Consignor

Both on consignee and consignor

None of the above

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

Account salesis submitted by.

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Teh consignor to the consignee

The consignee to the consignor

the debtor to the creditors

The principle to his agent

Commission due to the consignee is calculated on.

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Credit sales only

Cash sales only

Total sales

None of these

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

None of these

The consignment outward books or journal is maintained by.

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Customers

Consignor

Consignee

Debtors

When the goods sent on consignment are sold by the consignee the account to be debited is.

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Cash account

Consignee personal account

Consignment account

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

Consignee account is of the natur eof.

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Personal account

Nominal account

Real account

None of these

Consignee is.

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A principal

An agent

A debtor

A creditor

When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to.

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Cash account

Consignor 's personal account

Consignment account

None of these

Consignment account is in the nature of.

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Profit and loss account

Real account

Personal Account

None of these

In consginee's books the payment of expense by consignee should be debited to

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Consignment account

Consignnors account

Cash account

None of these

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