_______ is the initial payment made at the time of signing the hire purchase agreement

Related MCQs

• Fixed assets purchased on hire purchased on hire purchase terms are recorded at
• When an asset is acquired on hire purchase system, the asset account is debited with _______ of the assets in the books of the hire purchaser.
• While checking the accounts of ABC the following discrepancies were noticed, even though the Trial Balance was made to balance by putting the difference to Suspense A/c. (i) Sales day book for the month of June‘12 was found overcast by ` 7,000. (ii) A credit purchase of ` 3,000 was omitted to be recorded in the days book. (iii) ` 4,300. Received from A credited to A A/c ` 3,400. (iv) Purchase of Office Equipment worth ` 5,000 included in trading purchases. From the above details what would have been the difference in Trial Balance which was made to balance by opening Suspense A/c.
• Under hire purchase system depreciation is charged:
• What is transferred to hirer under hire purchase system
• Hire purchase act is
• The difference between hire purchase price and the cash price is called ______
• In Hire Purchase system cash price plus interest is known as
• Excess of hire purchase price over cash price is known as
• In the hire purchase system interest charged by vendor is calculated on the basis of