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Online Tests
Principles of Accounting Icom Part 2 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
Consignee is.
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A principal
An agent
A debtor
A creditor
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Question # 2
In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.
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Salary
Wages
Profit
Commission
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Question # 3
Dell creder commission is calculated on.
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Total sales
Cash sales
Credit sales
None of these
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Question # 4
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
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Question # 5
The parties involves in the consignment are.
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Two
Three
Four
Five
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Question # 6
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.
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Question # 7
When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to.
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Cash account
Consignor 's personal account
Consignment account
None of these
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Question # 8
The consignment outward books or journal is maintained by.
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Customers
Consignor
Consignee
Debtors
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Question # 9
For the commission due to the consignee on the sales of goods in the books of the consignor will be credited to.
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Commission account
Consignee's personal account
Consignement account
None of these
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Question # 10
When the goods sent on consignment are sold by the consignee the account to be debited is.
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Cash account
Consignee personal account
Consignment account
None of these
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Question # 11
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
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Question # 12
The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.
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Sales account
Performa invoice
Account sales
None of these
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Question # 13
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
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Question # 14
Goods sent on consignment should be debited int he books of the consignor.
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Consignee account
Consignment account
Goods sen ton consignment
Consignor account
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Question # 15
Commission due to the consignee is calculated on.
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Credit sales only
Cash sales only
Total sales
None of these
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Question # 16
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
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