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

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

Consignee is.

Choose an answer

A principal

An agent

A debtor

A creditor

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

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

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

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

The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.

Choose an answer

Normal losses

Additional loss

Abnormal losses

Both abnormal and normal loss

Consignee account is of the natur eof.

Choose an answer

Personal account

Nominal account

Real account

None of these

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

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

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

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

Over riding commission is calculated on.

Choose an answer

Cash sales only

Credit sales only

Total sales

None of the above

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

Choose an answer

Consignor

Consignee

Debtor

Creditor

The persons to whom the goods are dispatched for the purpsoe of sales is called.

Choose an answer

Debtor

Consignee

Consignor

None of these

More Classes

Other Links

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

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer