Question # 1

The abnormal loss on consignemnt is credited to.

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Consignment account

Consignment personal account

Profit and loss account

Goods sent on consignemnt account

The consignee acts entirely on behalf of the

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Debtors

Creditors

Customer

Principal or consignor

Commission due to the consignee is calculated on.

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Credit sales only

Cash sales only

Total sales

None of these

The consignment inward book or journalis matinained by.

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Consignor

Consignee

Customer

Debtors

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

Consignment account is in the nature of.

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Profit and loss account

Real account

Personal Account

None of these

In consignee's books, the acceptance of a bil of echange by consignee will be debited to.

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Trading account

Bill payable accont

Consignor account

Consignment account

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.

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

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

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

In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the.

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Consignor

purchaser

Consignee

None of these

An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.

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Bonus

Commission

Del creder commision

Credit commission

The consignment outward books or journal is maintained by.

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Customers

Consignor

Consignee

Debtors

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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