The depreciation on an asset purchased through hire purchase should be:

Related MCQs

• 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.
• In case of Hire-Purchase the total sum payable by the hire-purchaser as per terms in order to complete the transactions is
• On the balance sheet of a company, the value of the asset bought through hire purchase will appear as:
• Which of the following does not give a difference between a hire purchase and a normal purchase?
• The interest charged on the hire purchase should appear in the profit and loss account in what manner?
• Ownership of goods under hire purchase agreement is transferred at the time of:
• What is transferred to Hirer under hire purchase system:
• Hire Purchase Act is passed in the year
• Under hire purchase system the buyer is called _________
• Under hire purchase system who has the right of sell __________