[Solved] What is transferred to Hirer under hire purchase system:

McqMate

Q.	What is transferred to Hirer under hire purchase system:
A.	ownership of assets
B.	possession of asset
C.	ownership and possession of asset
D.	none of these
Answer» B. possession of asset

777

0

Do you find this helpful?

1

View all MCQs in

Financial Accounting 2

Discussion

No comments yet

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
Ownership of goods under hire purchase agreement is transferred at the time of:
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?
In the books of Hirer, the interest and depreciation account will be transferred to ______.
Under hire purchase system the buyer is called _________
Under hire purchase system who has the right of sell __________
Under hire purchase system, the agreement can be _________