1. The relationship between the consignor and consignee is that of (a) Principal and Agent (b) Buyer and Seller (e) Debtor and Creditor 2. 3. (d) Boss and Servant Who is preparing proforma invoice in consigment? (a) Banker (b) Wholeseller (e) Consignee (d) Consignor Which of the following items should not be entered in Receipts and payments account of a club? (a) Sale of Old Newspaper (b) Loss on sale of Old furniture (e) Expenses paid for the previous year (d) Subscription received in advance Purchase of furniture by a club is (a) Capital expenditure (b) Revenue expense (c) Capital Receipt (d) Revenue Receipt Memorandum Joint Venture account is a account. (a) Personal (b) Real (e) Nominal (d) None of these 4. 5