WorksheetsConsignment Accounts
Total questions: 10
Worksheet time: 6mins
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
For expenses incurred by consignor, this account is debited.
Consignor
Consignment
Consignee
Bank
Commission on consignment is _________ to consignee.
Expense
Loss
Income
Asset
Select two or more correct options:
Consignment expenses are incurred by
Consignee
Consignor
Debtor
Creditor
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
Account sales is submitted by consignee to the consignor.
True
False
A consignee is paid del- credere commission for bearing the risk of bad debts on account of credit sales made by him.
True
False
Sales account and account sales are synonymous terms.
True
False
The document giving the description of goods and their minimum selling price sent to the consignee by the consignor is known as ————————-
(a)
Del-Credere commission is normally calculated on ———————- sales.
(a)
