Question

Which of the following items is NOT included in the 'Account Sale'?

• A. Goods sold by consignee
• B. Expenses of consignment incurred by consignee
• C. Claim paid by insurance company
• D. Advance against consignment paid by consignee

Answer 1

Answer: (C)

Claim paid by insurance company

Account Sales is a statement prepared by the consignee and sent to the consignment specifying the quantity of goods sold, vaue etc., expenses incurred on behalf of the consignor, commission earned, advance paid if any and the net amount for which the consignee is liable. Thus, claim paid by insurance card mpany does not form part of the account sales.