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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
Commission due to the consignee is calculated on.
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Credit sales only
Cash sales only
Total sales
None of these
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Question # 2
The person who sends the goods to his agent for the purpose of sale is called.
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Consignor
Consignee
Debtor
Creditor
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Question # 3
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
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Question # 4
Consignee is.
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A principal
An agent
A debtor
A creditor
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Question # 5
Consignment signifies.
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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 # 6
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
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Question # 7
The consignment outward books or journal is maintained by.
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Customers
Consignor
Consignee
Debtors
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Question # 8
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 # 9
Over riding commission is calculated on.
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Cash sales only
Credit sales only
Total sales
None of the above
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Question # 10
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
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Question # 11
Consignor is also called.
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Principal
Agent
Debtor of the consignee
Creditor of the consignee
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Question # 12
Del-credere commission is allowed to cover.
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Normal losses
Abnormal losses
Loss due to bad debts
None of these
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Question # 13
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 # 14
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 # 15
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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