The main difference between sale under Hire purchase agreement and sales under Installment system is regarding

Related MCQs

• Dipti has purchased one Machine on hire purchase agreement. The cash price of machine is Rs. 90000. The amount is to be paid on agreement Rs. 30000 and balance amount is paid by three equal annula instalments of Rs. 30000 each. Find out the intrest of third year.
• Interest is calculated on                 under hire purchase agreement.
• Interest is calculated on                 under hire purchase agreement.
• According to hire purchase agreement Rs. 25000 is the down payment and Rs. 90000 is the total amount of three equal instalments inclusive of interest Rs. 15000. How much would be the cash price of the asset ?
• Which of the following is not included in the hire purchase agreement ?
• Under hire-purchase system the amount of interest is charged to                 Account
• Under the Hire purchase system, goods are delivered to the hirer when -
• Under the Hire purchase system, ownership of goods is transferred to the hirer when -
• In case of Hire purchase system, Interest is not included in-
• In case of Hire purchase, the depreciation is calculated on -