MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Business Studies

Financing Decision

Account Sales...

Question

Account Sales is the statement sent by the consignor to the consignee.

A

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B False
It is the statement sent by consignee to consignor which includes sales made by the consignee, expenses incurred on behalf of consignor, commission earned by consignee, any advance payment to consignor and balance due to consignor.

Suggest Corrections

thumbs-up

0

Similar questions

Q. The commission allowed by consignor to the consignee to bear the bad debts on account of credit sales is called _______________.

Q. When goods sent on consignment are sold by the consignee, the account to be debited is in the books of consignor.

Q. When the bill of exchange drawn by the Consignor is accepted by the Consignee which account will be credited in the books of the consignor?

Q. If Consignee sent advance to Consignor, then which of the following entry will be passed in the books of Consignee?

A. Consignor A/c To Cash & Bank A/c	Dr.
B. Cash & Bank A/c To Consignee A/c	Dr.
C. Cash & Bank A/c To Consignor A/c	Dr.
D. Consignment A/c To Cash & Bank A/c	Dr.

Q. Over-riding commission is a commission payable to consignee by consignor ______________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Financial Management

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

Financing Decision

Standard XII Business Studies

Join BYJU'S Learning Program

CrossIcon