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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
The consignment outward books or journal is maintained by.
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Customers
Consignor
Consignee
Debtors
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Question # 2
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 # 3
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.
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Question # 4
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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Question # 5
Consignment account is in the nature of.
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Profit and loss account
Real account
Personal Account
None of these
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Question # 6
Dell creder commission is calculated on.
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Total sales
Cash sales
Credit sales
None of these
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Question # 7
For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.
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Cash account
Consignee personal account
Consignment account
None of the above
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Question # 8
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
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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
Abnormal loss arises due to.
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Natural causes
Evaporation drying breaking in bulk
Pilferage , theft fire etc.
Some unavoidable causes
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Question # 11
In the books of consignee the sale of goods by the consigee credited to.
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Sales account
Consignor account
Consignee's account
None of these
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Question # 12
the profit on consignment in the books of the consignor should be deited to.
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Consignnment account
Profit and loss account
Consignee 's account
None of these
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Question # 13
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 # 14
In case of del creder commission the liability of bad debts is on
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Consignee
Consignor
Both on consignee and consignor
None of the above
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Question # 15
Consignor is also called.
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Principal
Agent
Debtor of the consignee
Creditor of the consignee
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Question # 16
The consignment inward book or journalis matinained by.
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Consignor
Consignee
Customer
Debtors
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