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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
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Salary
Wages
Profit
Commission
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Question # 2
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 # 3
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 # 4
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
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Question # 5
Del-credere commission is allowed to cover.
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Normal losses
Abnormal losses
Loss due to bad debts
None of these
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Question # 6
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 # 7
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
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Sales account
Performa invoice
Account sales
None of these
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Question # 8
The persons to whom the goods are dispatched for the purpsoe of sales is called.
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Debtor
Consignee
Consignor
None of these
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Question # 9
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 # 10
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
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Question # 11
Dell creder commission is calculated on.
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Total sales
Cash sales
Credit sales
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 consignment outward books or journal is maintained by.
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Customers
Consignor
Consignee
Debtors
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Question # 14
Over riding commission is calculated on.
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Cash sales only
Credit sales only
Total sales
None of the above
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Question # 15
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 # 16
The consignee acts entirely on behalf of the
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Debtors
Creditors
Customer
Principal or consignor
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