Accounting MCQs Latest book Edition
(1) The consignor is the:
a) An agent
b) Creditor of Consignee
c) Debtor of Consignee
d) Principle
e) All of the above
(2) Normal losses are arises due to ?
a) Contigent
b) Natural causes
c) Avoidable factory
d) Breaking in bulk
e) Unavoidable factory
(3) The acceptance of Bill of exchange in Consignee book is debited to?
a) Consignment account
b) Consignor acoount
c) Trading account
d) Profit and loss account
e) Income and Expenditure account
(4) The term of account and sales account are by Nature:
a) Equal
b) Same
c) Different
d) Valuable
e) All of the above
(5) The Consignment stock appears in the balance sheet of :
a) Consignee
b) Consignor
c) both A and B
d) None of the above
e) All of the above
(6) Which process is follwed for adjusting invoice price to the cost price?
a) Invoicing
b) Costing
c) Loading
d) Unloading
e) None of the above
(7) The consignee is the?
a) Agent
b) Buyer
c) Principal
d) Seller
e) None of the above
(8) Account sale is submitted by the?
a) Principal to his agent
b) Debtor to the creditor
c) Consignee
d) Cosignor
e) None of the above
(9) In Journal book the consignemt is prepared by ?
a) Consignee
b) Consignor
c) Customer
d) Debtor
e) All of the above
(10) The nature of Consignee account is?
a) Real
b) Nominal
c) Personal
d) All of the above
e) None of the Above
(11) Where abnormal losses are credited in the book of consignor?
a) Consignee account
b) Trading account
c) Trading profit and loss account
d) Consignment account
e) c and d
(12) In ordinary partnership business how many partners are:
a) Not more the 2 partners
b) Not more then 5 partners
c) Not more the 50 partners
d) Not more the 20 partners
e) Any Number of partners