Question

Cost of required repair on damaged closing stock of Consignment will be –

(A) Debited to Consignment Account

(B) Debited to Consignment Stock

(C) Debited to Repairs Account

(D) Deducted from Value of Closing stock.​

Answer 1

Answer:

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(D) Deducted from Value of Closing stock

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Answer 2

Cost of required repair on damaged closing stock of Consignment will be Deducted from Value of the Closing stock.​ (option D)

• Consignment is an arrangement in which goods are given to a third party to sell those products.
• The party who sells the goods through consignment gains profit as commission.
• This is a low-time selling investment method.
• One person's good is sold through a third party, here the consigner gains low profit.
• It is a sort of business that does not require much time.