A level Accounting - Consignment Account

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Quiz by jessline
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Last updated: February 17, 2020
First submittedFebruary 14, 2020
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Questions
answers
Account to sent the goods to consignee
consignment outward
Commision for guarenteeing the bad debt expense
Del Credere
Consignee receives_____for selling the goods
commission
When consignee sells goods, an ______ ______ is given to consignor
account sales
Pro forma invoice gives detailed information, but not about any ______ made.
payments
Consignment outwards account record the value of any goods sent to ________
consignee
Questions
answers
Consignee is also called as an _______
agent
The consignee ______ owns the goods received on consignment
never
Inventory is recorded at ________'s book, not consignee's
consignor
No records are required in the _______'s books for unsold inventory
consignee
Closing inventory appears as a _______ balance brought down in the consignment account
debit
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