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- 1. Multiple Choice
For the expenses incurred by the consignor, this account is debited.
Consignment Inwards
Consignee
Consignment Outwards
Consignor
- 2. Multiple Choice
The consignee has to prepare a statement to the consignor which shows affairs relating to the consignment. It is called the?
Invoice
Account Sales
Cheque
Sight Draft
- 3. Multiple Choice
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 a del credere commission
The Consignor is the agent who sells the goods
- 4. Multiple Choice
Which of the following is correct?
The Consignee is the person who owns the goods and sends them to the agent
The Consignee is the person who pays the del credere commission
The Consignee is the trader or principal
The Consignee is the person who receives and sells the goods
- 5. Multiple Choice
The remuneration (payment) to the consignee for selling the goods of the consignor is called a?
Interest
Dividend
Commission
Salary
- 6. Multiple Choice
The statement sent by the consignee is called the?
all of the above
account sales
proforma invoice
invoice
- 7. Multiple Choice
This is paid to the consignee if he bears the risk of the bad debts.
Ordinary commission
Del credere Commission
Overriding commission
None of the Above
- 8. Multiple Choice
In the books of the consignee the cash received from the debtor should be debited to the:
Consignor's account
Sundry debtor's account
Consignee's account
Cash account
- 9. Multiple Choice
In the consignee's books, the payment of expenses by the consignee should be debited to:
Consignment Inwards account
Consignment Outwards account
Consignor’s account
Cash account
- 10. Multiple Choice
The relationship between consignor and consignee is that of:
Buyer and seller
Debtor and creditor
Trader and agent
None of these
- 11. Multiple Choice
In consignment, the seller of the goods is called the?
Consignee
Consignor
Debtor
Creditor
- 12. Multiple Choice
In consignment, sender of goods is called?
Creditor
Debtor
Consignor
Consignee
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