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

Question # 1

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 # 2

The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.

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Normal losses

Additional loss

Abnormal losses

Both abnormal and normal loss

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Question # 3

Consignment account is in the nature of.

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Profit and loss account

Real account

Personal Account

None of these

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Question # 4

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

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Question # 5

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

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Question # 6

The parties involves in the consignment are.

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Two

Three

Four

Five

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Question # 7

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 # 8

Del-credere commission is allowed to cover.

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Normal losses

Abnormal losses

Loss due to bad debts

None of these

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Question # 9

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

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Question # 10

Consignee account is of the natur eof.

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Personal account

Nominal account

Real account

None of these

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Question # 11

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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