ICOM Part 2 English Medium Principles of Accounting Chapter 3 MCQ's Test

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12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 3 (Consignment Accounts)

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

Try the Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test.

  • Total Questions15

  • Time Allowed20

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Ch. # Test Name MCQs Available PDF File Answers Mode Launch Test
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Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test (MCQs With Answers)

Sr. # Questions Answers Choice
1 Account salesis submitted by. Teh consignor to the consignee The consignee to the consignor the debtor to the creditors The principle to his agent
2 For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to. Commission account Consignee's personal account Consignement account None of these
3 The relation ship between consignor and consignee is thet of. Buyer and seller Debtorsde creditor Whole seller or retailer Principal and agent
4 In the books of consignee the sale of goods by the consigee credited to. Sales account Consignor account Consignee's account None of these
5 The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are. Normal losses Additional loss Abnormal losses Both abnormal and normal loss
6 The unsold stock is valued at 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.
7 The consignment inward book or journalis matinained by. Consignor Consignee Customer Debtors
8 An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called. Bonus Commission Del creder commision Credit commission
9 In case of del creder commission the liability of bad debts is on Consignee Consignor Both on consignee and consignor None of the above
10 the loss whihc arises due to natural causes such as evaporation etc is called. Abnormal loss Normal loss Additional loss None of these
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