Consignment Accounts

The relationship between consignor and consignee is that of: 2015

• Principal and agent

• Debtor and creditor

• Buyer and seller

• None of these

______is paid to the agent to work hard to push a new line of product in the market.2015/17

• Commission

• Del credere commission

• Overriding commission

• Ordinary commission

In consignment the risk attached to goods delivered is with: 2016

• Seller

• Buyer

• Consignor

• Consignee

In books of consignee, the cash received from sundry debtors should be debited to: 2016

• Consignor's account

• Cash account

• Sundry debtors account

• Consignee's account

The forwarding letter sent by consignor to consignee is a substitute of: 2017

• Voucher

• Journal

• Invoice

• Consignment account

In consignee's book, the payment of expenses by consignee should be debited to: 2017

• Consignment account

• Consignor account

• Cash account

• Expenses account

In case of del credere commission, the liability for bad debts will be on: 2018

• Consignee

• Consignor

• Broker

• Clearing agent

In sale, the risk and damaged attached to goods sold are transferred to: 2018

• Seller

• Consignee

• Consignor

• Buyer

What shows the details about the sale of goods, expenses paid by consignee? 2019

• Account sales

• Sales account

• Purchases account

• Sales book

In the books of consignor, the unsold stock with the consignee should be debited to: 2019

• Consignment stock account

• Consignment account

• Stock account

• Consignees account