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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
Consignment signifies.
Choose an answer
Goods despatched by the owner to his agent
Goods forwarded by the creditor to his debtor
Goods forwarded from one place to another
Goods sent by the owner to his agent for the purpose of sale.
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Question # 2
Consignee account is of the natur eof.
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Personal account
Nominal account
Real account
None of these
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Question # 3
Consignment account is in the nature of.
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Profit and loss account
Real account
Personal Account
None of these
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Question # 4
The parties involves in the consignment are.
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Two
Three
Four
Five
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Question # 5
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
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Question # 6
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
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Question # 7
Dell creder commission is calculated on.
Choose an answer
Total sales
Cash sales
Credit sales
None of these
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Question # 8
The consignment inward book or journalis matinained by.
Choose an answer
Consignor
Consignee
Customer
Debtors
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Question # 9
In the books of consignee the sale of goods by the consigee credited to.
Choose an answer
Sales account
Consignor account
Consignee's account
None of these
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Question # 10
When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to.
Choose an answer
Cash account
Consignor 's personal account
Consignment account
None of these
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Question # 11
the loss whihc arises due to natural causes such as evaporation etc is called.
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Abnormal loss
Normal loss
Additional loss
None of these
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Question # 12
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
Choose an answer
Cash account
Consignee personal account
Consignment account
None of the above
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Question # 13
In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the.
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Consignor
purchaser
Consignee
None of these
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Question # 14
Consignee is.
Choose an answer
A principal
An agent
A debtor
A creditor
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Question # 15
The relation ship between consignor and consignee is thet of.
Choose an answer
Buyer and seller
Debtorsde creditor
Whole seller or retailer
Principal and agent
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Question # 16
An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.
Choose an answer
Bonus
Commission
Del creder commision
Credit commission
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