Initial payment made on signing the agreement is Down Payment,Cash price,Hire Purchase price,Interest.
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Subject:
Accountancy -
Author:
deangelo23 -
Created:
1 year ago
Answers 2
Answer:
The answer is
Explanation:
Interest is charged on the amount outstanding. Therefore, if the hire purchaser makes a down payment on signing the contract, it will not include any amount of interest.
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Author:
taylortoxw
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Rate an answer:
2
Hire Purchase price
Hire purchase price is a course of action for buying expensive client items, where the buyer makes a fundamental beginning venture and pays the balance notwithstanding premium in segments. With some piece plans, the buyer gets the ownership opportunities when the arrangement is embraced with the merchant. With enlist purchase courses of action, the obligation regarding the stock isn't officially moved to the buyer until all of the portions has been made.
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Author:
cayetanopatterson
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Rate an answer:
7