Consignment Accounts
Quiz
•
Business
•
12th Grade - University
•
Easy
Sir. Tanveer
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11 questions
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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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