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Consignment Accounts

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

The relationship between consignor and consignee is that of: 2015

a)

Principal and agent

b)

Debtor and creditor

c)

Buyer and seller

d)

None of these

2.

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

a)

Commission

b)

Del credere commission

c)

Overriding commission

d)

Ordinary commission

3.

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

a)

Seller

b)

Buyer

c)

Consignor

d)

Consignee

4.

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

a)

Consignor's account

b)

Cash account

c)

Sundry debtors account

d)

Consignee's account

5.

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

a)

Voucher

b)

Journal

c)

Invoice

d)

Consignment account

6.

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

a)

Consignment account

b)

Consignor account

c)

Cash account

d)

Expenses account

7.

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

a)

Consignee

b)

Consignor

c)

Broker

d)

Clearing agent

8.

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

a)

Seller

b)

Consignee

c)

Consignor

d)

Buyer

9.

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

a)

Account sales

b)

Sales account

c)

Purchases account

d)

Sales book

10.

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

a)

Consignment stock account

b)

Consignment account

c)

Stock account

d)

Consignees account

11.

In the book of consignee, del credere commission should be debited to: 2019

a)

Commission account

b)

Consignor's account

c)

Sundry debtor's account

d)

Consignee's account