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Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers

Question # 1

The consignment inward book or journalis matinained by.

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Consignor

Consignee

Customer

Debtors

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Question # 2

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

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Question # 3

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

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

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 # 6

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

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Question # 7

The relation ship between consignor and consignee is thet of.

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Buyer and seller

Debtorsde creditor

Whole seller or retailer

Principal and agent

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Question # 8

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 # 9

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

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Question # 10

In the books of consignee the sale of goods by the consigee credited to.

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Sales account

Consignor account

Consignee's account

None of these

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Question # 11

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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