| 1 |
The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are. |
- A. Normal losses
- B. Additional loss
- C. Abnormal losses
- D. Both abnormal and normal loss
|
| 2 |
When the goods sent on consignment are sold by the consignee the account to be debited is. |
- A. Cash account
- B. Consignee personal account
- C. Consignment account
- D. None of these
|
| 3 |
The person who sends the goods to his agent for the purpose of sale is called. |
- A. Consignor
- B. Consignee
- C. Debtor
- D. Creditor
|
| 4 |
The consignee acts entirely on behalf of the |
- A. Debtors
- B. Creditors
- C. Customer
- D. Principal or consignor
|
| 5 |
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as. |
- A. Salary
- B. Wages
- C. Profit
- D. Commission
|
| 6 |
Consignee is. |
- A. A principal
- B. An agent
- C. A debtor
- D. A creditor
|
| 7 |
Abnormal loss arises due to. |
- A. Natural causes
- B. Evaporation drying breaking in bulk
- C. Pilferage , theft fire etc.
- D. Some unavoidable causes
|
| 8 |
For the stock unsoled with the consignee wil the debited in the books of the consignor. |
- A. Stock on consignment account
- B. Consignment
- C. Consignee account
- D. None of the above
|
| 9 |
In consignee's books, the acceptance of a bil of echange by consignee will be debited to. |
- A. Trading account
- B. Bill payable accont
- C. Consignor account
- D. Consignment account
|
| 10 |
Consignee account is of the natur eof. |
- A. Personal account
- B. Nominal account
- C. Real account
- D. None of these
|
