Multiple Choice Questions on Goods sent on consignment account is of the nature of ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Goods sent on consignment account is of the nature of ........

General Accounting Principles Special Journals
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    Goods sent on consignment account is of the nature of _______.

    personal account.

    Incorrect Answer

    nominal account.

    Incorrect Answer

    real account

    Correct Answer

    representative account

    Incorrect Answer
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    Explanation:

    Goods sent on Consignment Account is a real account. It is closed up by transferring its balances to trading accounting. It shall be shown on credit side of trading account. For each consignment these sets of accounts will be prepared separately.

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    VISHAL KUMAR CHOUDHARY

    Goods sent on Consignment Account is a real account. It is closed up by transferring its balances to trading accounting. It shall be shown on credit side of trading account. For each consignment these sets of accounts will be prepared separately.

    0 0 reply

    Richa Goyal

    Mam goods send to consignment to class m apne real account btaya tha

    0 0 reply
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