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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.
Choose an answer
Commission account
Consignee's personal account
Consignement account
None of these
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Question # 2
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 # 3
Consignee is.
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A principal
An agent
A debtor
A creditor
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Question # 4
In the books of consignor, the loss on the consignment should be crediterd to.
Choose an answer
Consignment account
Consigneee 's account
Profit and loss account
Gppds sent on consignemnt
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Question # 5
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 # 6
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 # 7
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
Choose an answer
Sales account
Performa invoice
Account sales
None of these
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Question # 8
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 # 9
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 # 10
In case of del creder commission the liability of bad debts is on
Choose an answer
Consignee
Consignor
Both on consignee and consignor
None of the above
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Question # 11
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 # 12
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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Question # 13
the profit on consignment in the books of the consignor should be deited to.
Choose an answer
Consignnment account
Profit and loss account
Consignee 's account
None of these
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Question # 14
Over riding commission is calculated on.
Choose an answer
Cash sales only
Credit sales only
Total sales
None of the above
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Question # 15
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 # 16
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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