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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
The abnormal loss on consignemnt is credited to.
Choose an answer
Consignment account
Consignment personal account
Profit and loss account
Goods sent on consignemnt account
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Question # 2
In consignee's books, the acceptance of a bil of echange by consignee will be debited to.
Choose an answer
Trading account
Bill payable accont
Consignor account
Consignment account
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Question # 3
Abnormal loss arises due to.
Choose an answer
Natural causes
Evaporation drying breaking in bulk
Pilferage , theft fire etc.
Some unavoidable causes
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Question # 4
Account salesis submitted by.
Choose an answer
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 # 5
Goods sent on consignment should be debited int he books of the consignor.
Choose an answer
Consignee account
Consignment account
Goods sen ton consignment
Consignor account
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Question # 6
For the stock unsoled with the consignee wil the debited in the books of the consignor.
Choose an answer
Stock on consignment account
Consignment
Consignee account
None of the above
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Question # 7
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 # 8
In consginee's books the payment of expense by consignee should be debited to
Choose an answer
Consignment account
Consignnors account
Cash account
None of these
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Question # 9
The persons to whom the goods are dispatched for the purpsoe of sales is called.
Choose an answer
Debtor
Consignee
Consignor
None of these
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Question # 10
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
Choose an answer
Salary
Wages
Profit
Commission
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Question # 11
The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.
Choose an answer
Consignment account
Cash account
Consignor account
None of these
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Question # 12
In the books of consignor on reciving advance in cash from consignee should be debited to.
Choose an answer
Cash account
Consignee account
Consignment account
None of these
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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.
Choose an answer
Consignor
purchaser
Consignee
None of these
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Question # 14
Consignee account is of the natur eof.
Choose an answer
Personal account
Nominal account
Real account
None of these
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Question # 15
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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