Question # 1

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 person who sends the goods to his agent for the purpose of sale is called.

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Consignor

Consignee

Debtor

Creditor

Over riding commission is calculated on.

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Cash sales only

Credit sales only

Total sales

None of the above

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

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

The consignee acts entirely on behalf of the

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Debtors

Creditors

Customer

Principal or consignor

In consignee's books, the acceptance of a bil of echange by consignee will be debited to.

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Trading account

Bill payable accont

Consignor account

Consignment account

Consignor is also called.

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Principal

Agent

Debtor of the consignee

Creditor of the consignee

Consignment account is in the nature of.

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Profit and loss account

Real account

Personal 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.

An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.

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Bonus

Commission

Del creder commision

Credit commission

In the books of consignor, the loss on the consignment should be crediterd to.

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Consignment account

Consigneee 's account

Profit and loss account

Gppds sent on consignemnt

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.

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

The consignment outward books or journal is maintained by.

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Customers

Consignor

Consignee

Debtors

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