WorksheetsConsignment Accounts
Total questions: 10
Worksheet time: 5mins
In consignment, sender of goods is called _________________.
Consignee
Consignor
Debtor
Creditor
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
Bills Receivable Account
Bad Debts Account
Consignee has to prepare a statement to consignor which shows affairs relating to the consignment.
Invoice
Sight Draft
Account Sales
Cheque
Another name to which the consignor is called
Consignee
Principal
Retailer
Customer
Is consignment the same as making a sale?
True
False
Which of the following correctly defines DEL CREDERE COMMISSION?
Additional payment to the consignee over and above regular commission
Document sent by the consignee to the consignor giving details of the sales commission
remuneration for services performed by the consignee as a commission
When goods are sent to an agent as commission
Which of the following is correct?
The Consignor is the person who owns the goods and sends them to the agent
The Consignor is the person who receives and sells the goods
The Consignor is the person who receives the a del credere commission
The Consignor is the agent who sells the goods
P. Taylor, a consignee, submitted an Account Sales to Terry’s Wholesalers, a consignor,
showing that he had sales of 300 items at $25 each, Landing Charges $680, Duties and
Taxes $1 200 and a 5% commission. How much should be indicated as the amount due
to Terry’s Wholesalers? (BGCSE 2005)
$5 245
$5 620
$7 125
$7 500
