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Consignment Accounts

Authored by Indira C

Business

10th - 12th Grade

Used 94+ times

Consignment Accounts
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In accounting, consignment signifies

goods forwarded from one place to another

goods forwarded by one person to another

goods despatched by the owner to its agent

goods despatched by the owner to its agent for the purpose of sale

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For expenses incurred by consignor, this account is debited.

Consignor

Consignment

Consignee

Bank

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Commission on consignment is _________ to consignee.

Expense

Loss

Income

Asset

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select two or more correct options:

Consignment expenses are incurred by

Consignee

Consignor

Debtor

Creditor

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select two or more correct options:

These are the important ledger accounts in the books of Consignor

Consignment Account

Consignee Account

B/R Account

Bad Debts Account

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Account sales is submitted by consignee to the consignor.

True

False

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

A consignee is paid del- credere commission for bearing the risk of bad debts on account of credit sales made by him.

True

False

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