| 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 |
The consignment outward books or journal is maintained by. |
- A. Customers
- B. Consignor
- C. Consignee
- D. Debtors
|
| 3 |
In the books of consignee the sale of goods by the consigee credited to. |
- A. Sales account
- B. Consignor account
- C. Consignee's account
- D. None of these
|
| 4 |
Del-credere commission is allowed to cover. |
- A. Normal losses
- B. Abnormal losses
- C. Loss due to bad debts
- D. None of these
|
| 5 |
The person who sends the goods to his agent for the purpose of sale is called. |
- A. Consignor
- B. Consignee
- C. Debtor
- D. Creditor
|
| 6 |
Over riding commission is calculated on. |
- A. Cash sales only
- B. Credit sales only
- C. Total sales
- D. None of the above
|
| 7 |
Consignment signifies. |
- A. Goods despatched by the owner to his agent
- B. Goods forwarded by the creditor to his debtor
- C. Goods forwarded from one place to another
- D. Goods sent by the owner to his agent for the purpose of sale.
|
| 8 |
The consignment inward book or journalis matinained by. |
- A. Consignor
- B. Consignee
- C. Customer
- D. Debtors
|
| 9 |
Goods sent on consignment should be debited int he books of the consignor. |
- A. Consignee account
- B. Consignment account
- C. Goods sen ton consignment
- D. Consignor account
|
| 10 |
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
|
