MCQ questions for consignment accounts

MCQ questions and answers for consignment accounts

1. Departmental accounting facilitates

 

 
 
 
 

2. According to traditional classification of accounts, the type of consignment account is:

 

 
 
 
 

3. Sales are basis of apportionment in case of:

 

 
 
 
 

4. Which method is used by small concerns?

 

 
 
 
 

5. Proforma invoice is a document which is prepared by:

 

 
 
 
 

6. No entry is made for the loss, the amount of loss is absorbed by good units. This statement belongs to:

 

 
 
 
 

7. Del credere commission is allowed to cover:

 

 
 
 
 

8. Which of the following items may be shown by an account sales:

 

 
 
 
 

9. Consignee becomes consignor’s debtor when the goods are:

 

 
 
 
 

10. If the consignor is a manufacturer, which of the following journal entries should he make to close the goods sent on consignment account?

 

 
 
 
 

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