Consignment – NBC Institute

FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions

Identifying the periodic statement sent by the consignee.

Question

What is the name of a periodic statement sent by the consignee to the consignor?

Answer

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Tags: Consignment, Source Documents
Level: Level 1

FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions

Determining which consignment transaction does not require double entry.

Question

In a consignment agreement, which of these transactions does NOT require a double entry in the consignee’s books?

A. Goods sold by the consignee
B. Goods received from consignor
C. Consignee’s expense
D. Consignee’s commission
E. Cheque or draft sent to consignor

Answer

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Tags: Consignment, Double Entry, Transactions
Level: Level 1

FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)

Identifies the accounting treatment for losses or stolen goods on consignment.

Question

What are the accounting entries on consignment for stolen or lost goods?
A. Debit- Consignment Account; Credit- Profit or Loss or Insurance Account, if insured
B. Debit- Profit or Loss or Insurance Account, if insured; Credit- Consignment Account in the consignor’s ledger
C. Debit- Cash Account; Credit- Consignment Account
D. Debit- Goods in Transit Account; Credit- Consignment Account in consignee’s ledger
E. Debit- Consignment Accounts; Credit- Insurance Accounts

Answer

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Tags: Accounting Entries, Consignment, Financial Transactions, Losses
Level: Level 1

Topic: Accounting for Inventories (IAS 2)
Series: MAY 2014

FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions

Identifying the periodic statement sent by the consignee.

Question

What is the name of a periodic statement sent by the consignee to the consignor?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consignment, Source Documents
Level: Level 1

FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions

Determining which consignment transaction does not require double entry.

Question

In a consignment agreement, which of these transactions does NOT require a double entry in the consignee’s books?

A. Goods sold by the consignee
B. Goods received from consignor
C. Consignee’s expense
D. Consignee’s commission
E. Cheque or draft sent to consignor

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consignment, Double Entry, Transactions
Level: Level 1

FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)

Identifies the accounting treatment for losses or stolen goods on consignment.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Entries, Consignment, Financial Transactions, Losses
Level: Level 1

Topic: Accounting for Inventories (IAS 2)
Series: MAY 2014

Question Tag: Consignment

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FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions

Identifying the periodic statement sent by the consignee.

FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions

Determining which consignment transaction does not require double entry.

FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)

Identifies the accounting treatment for losses or stolen goods on consignment.

FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions

Identifying the periodic statement sent by the consignee.

FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions

Determining which consignment transaction does not require double entry.

FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)

Identifies the accounting treatment for losses or stolen goods on consignment.

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FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions

Identifying the periodic statement sent by the consignee.

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FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions

Determining which consignment transaction does not require double entry.

You're reporting an error for "FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions"

FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)

Identifies the accounting treatment for losses or stolen goods on consignment.

You're reporting an error for "FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)"

FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions

Identifying the periodic statement sent by the consignee.

You're reporting an error for "FA – May 2012 – L1 – SA – Q22 – Recording Financial Transactions"

FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions

Determining which consignment transaction does not require double entry.

You're reporting an error for "FA – Nov 2012 – L1 – SA – Q5 – Recording Financial Transactions"

FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)

Identifies the accounting treatment for losses or stolen goods on consignment.

You're reporting an error for "FA – May 2014 – L1 – SA – Q12 – Accounting for Inventories (IAS 2)"

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