Consignment Accounts

Consignment Accounts

12th Grade - University

11 Qs

quiz-placeholder

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Consignment Accounts

Consignment Accounts

Assessment

Quiz

Business

12th Grade - University

Easy

Created by

Sir. Tanveer

Used 60+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The relationship between consignor and consignee is that of: 2015

Principal and agent

Debtor and creditor

Buyer and seller

None of these

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

______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

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Seller

Buyer

Consignor

Consignee

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Voucher

Journal

Invoice

Consignment account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Consignment account

Consignor account

Cash account

Expenses account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Consignee

Consignor

Broker

Clearing agent

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