Question # 1

The consignment outward books or journal is maintained by.

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Customers

Consignor

Consignee

Debtors

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

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.

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

Consignment account is in the nature of.

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Profit and loss account

Real account

Personal Account

None of these

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

None of these

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

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

Consignee account is of the natur eof.

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Personal account

Nominal account

Real account

None of these

Abnormal loss arises due to.

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Natural causes

Evaporation drying breaking in bulk

Pilferage , theft fire etc.

Some unavoidable causes

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

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

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

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

Consignor is also called.

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Principal

Agent

Debtor of the consignee

Creditor of the consignee

The consignment inward book or journalis matinained by.

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Consignor

Consignee

Customer

Debtors

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