Consignment Accounts

Consignment Accounts

10th Grade - University

10 Qs

quiz-placeholder

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Consignment Accounts

Consignment Accounts

Assessment

Quiz

Business

10th Grade - University

Practice Problem

Hard

Created by

Indira C

Used 26+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In consignment, sender of goods is called _________________.

Consignee

Consignor

Debtor

Creditor

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Commission on consignment is _________ to consignee.

Expense

Loss

Income

Asset

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select two or more correct options:

Consignment expenses are incurred by

Consignee

Consignor

Debtor

Creditor

4.

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

Bills Receivable Account

Bad Debts Account

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consignee has to prepare a statement to consignor which shows affairs relating to the consignment.

Invoice

Sight Draft

Account Sales

Cheque

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Another name to which the consignor is called

Consignee

Principal

Retailer

Customer

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is consignment the same as making a sale?

True

False

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