If the hire purchaser fails to make payment of any installment, it is called _______

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
• In the books of hirer, for payment of installment hire vendor account will be ________
• If the hire vendor may take away all the goods on which there is default of installment it is called____________
• Under which system, ownership is transferred on payment of final installment
• ________ is the initial payment made at the time of signing the hire purchase agreement
• Installment system is governed by _______
• Under hire purchase system the buyer is called _________
• Under hire purchase system, the retail price of the articles is called ________
• The advance amount under hire purchase system is called __________