Page 1 : Consignment - objective Question, , 1. Goods sent on consignment should be debited by consignor to:, , a), , Consignment A/c (T), , (b), , Goods sent on consignment A/c, , (), , Consignees A/c, , (d), , Consignors A/c, , 2. In the books of consignor the balance of the consignment stock account would be shown:, , (a), , As an asset in the balance sheet. (T), As liability in the balance sheet., , (c), , On the credit side of trading account., , (d), , On the debit side of consignment account., , 3.On the dispatch of goods, the entry in the books of consignee would be:, , Consignment A/c will be debited and goods sent on consignment A/c will be credited., , (6), , Consignment A/c debit and consignee A/c credit, No entry (T), , (d), , None of above, , 4. The consignor is:, , (a), , Principal (T) (b), , Agent, , Debtor, , (d), , None of them, , 5. The consignee is:, , a), , Principal, , (b), , Agent (T), , (C), , Buyer, , (d), , Seller, , 6. Account sales is submitted by, , (a), , Consignor, , ()Principal to his agent, , (6), , (d), , Consignee (T), Debtor to creditor, , (8), 7.In the books of consignor, the expenses incurred by consignor should be debited to:, , (a), , (, , Consignees A/c (T) (6), Expenses A/c, , Consignment A/Nc, , (d), , Consignor's A/c, , 8 In the hooks of consianor the exnenses incurred by consignee should be debited to:

Page 2 : Consignment- objective Question, 1. Goods sent on consignment should be debited by consignor to:, , a), , Consignment A/c (T), , (b), , Goods sent on consignment A/c, Consignees A/c, , (d), , Consignors A/c, , 2. In the books of consignor the balance of the consignment stock account would be shown:, , (a), , As an asset in the balance sheet. (T), , (b), , As liability in the balance sheet., , (), , On the credit side of trading account., , (), , On the debit side of consignment account., , 3.Onthe dispatch of goods, the entry in the books of consignee would be:, Consignment A/c will be debited and goods sent on consignment A/c will be credited., , (6), , Consignment A/c debit and consignee A/c credit, No entry (T), , (d), , None of above, , 4. The, , consignor is, , (a), , Principal (T) (6), , (c), , Debtor, , Agent, (d), , None of them, , 5. The consignee is:, , a), , Principal, , (b), , Agent (T), , (c), , Buyer, , (d), , Seller, , 6. Account sales is submitted by:, , (a), , Consignor, , (c), , Principal to his agent, , (b), (d), , Consignee (T), Debtor to creditor, , (8), 7.In the books of consignor, the expenses incurred by consignor should be debited to:, , (a), , Consignees A/c (T) (6), , (c), , Expenses A/c, , Consignment A/c, , (d), , Consignor's A/c, , 8 In the hooks.of consianor the exnenses incurred by consignee should be debited to:

Page 3 : 8.In the b0oks of consignor, the expenses incurred by consignee should be debited to, , (a), , Consignee A/c, , (b), , Consignment A/c (T, , (c), , Expenses A/c, , ()Consignor'sA/c, , 9.In the books of consignor the acceptance of bills of exchange by the consignee will be, , credited to, , (a), , Consignment A/c, , (c), , Income A/c, , (b), (d), , Consignment A/c (, Consignor's A/c, , 10. In the books of consignor the acceptance of bills of exchange by the consignee will be, credited to, , (a), , Consignment A/c, , (c), , Bill receivable AVc, , (b), d), , Consignee's A/c (T)n, Bills payable A/c, , 11.In the books of consignor the abnormal loss should be credited to:, , (a), , Profit & loss A/c, , (b), , Consignment A/c (T), , Trading A/c, , (d), , Consignees A/cC, , 12. In case of delcreder commission, the liability for bad debits is on:, , (a), , Consignor, , (c), , Customer, , Consignee (, (d), , None of the above, , 13. In the books of consignor, the balance in the goods sent on consignment account is shown:, , (a), , On the asset side to balance sheet., , (6), , On the liability side of balance sheet., , (c), , On the credit side of trading A/c (T), , (d), , On the credit side of consignment A/c, , 14. In the books of consignee the expenses incurred by him on consignment are debited to:, , (a), , Consignment A/c, , (c), , Consignor's A/c (T) (0), , (6), , Cash A/c, , Expense A/c, , 15. In the books of consignee, the sale of goods is credited to:, , (a), , Consignor's A/c (T) (b), , ()Consignee'sA/c, 16 The term A/c and sale A/c are, , Sales A/c, (d), , Cash A/c, , in natureP

Page 4 : uUISguTeLAV, , (c), , Consignors A/c (T) (d), , 15. In the books of, , consignee, the, , (a), , Consignor's A/c (T) (b), , (c), , Consignee's A/c, , Expense A/c, , sale of, , is credited to:, , goods, , Sales A/c, , (d), , Cash A/c, , -, , 16.The term A/c and sale A/c are, , in nature., , (a), , Parallel, , (6), , Some, , (c), , Equal, , (d), , Different (T), , 17. The consignment inward book or journal is maintained by ., , (a), , Customer, , (b), , Consignee (T), , Debtor, , (d), , Customer, , 18. The consignee acts entirely on behalf of the:, , (a), , Customer, , c), , Consignor (T) (d), , (b), , Debtor, , Creditor, , 19.Del- creder commission is calculated on:, , (a), , Credit sales, , (b), , Cash sales, , (c), , Total sale, , (d), , Both (a) and (b) (T), , 20. Consignee A/c is the nature of:, , a), , Nominal A/c, , (b), , Personal A/c (T), , (c), , RealIA/c, , (d), , None, , 21.Normal losses are due to:, , (a), , Avoidable factor, , (b), , Unavoidable (T), , Contingent, , (d), , None, , 22. In consignee book, the acceptance of bill of exchange by consignee will be debited to:, , (a), , Trading A/c, , (, , Balance payable A/c, , (b), , Consignor A/c (T)n, , (d), , Consignee A/c