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.

Related MCQs

• In case of Hire-Purchase the total sum payable by the hire-purchaser as per terms in order to complete the transactions is
• If the hire purchaser fails to make payment of any installment, it is called _______
• When Branch pays expenses for H.O. the following account is debited in the books of the branch _______
• In the books of hirer, for payment of installment hire vendor account will be ________
• In the books of hirer, for interest due at the end of the year hire vendor account will be _______
• Which of the following does not give a difference between a hire purchase and a normal purchase?
• On the balance sheet of a company, the value of the asset bought through hire purchase will appear as:
• The depreciation on an asset purchased through hire purchase should be:
• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.
• The interest charged on the hire purchase should appear in the profit and loss account in what manner?