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caluculation of intrest under hire purchase system

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11y ago

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What is the explanation for the features of hire purchase system?

higher purchase


Do the basic elements of financial accounting apply to all businesses?

hire purchase system


When was the Origin or development of hire purchase?

origin and development of hire purchase


What are the features of a hire purchase system?

buyer and seller make written and legal agreement between them


Why you should hire me for the position of IT?

I hire ppl to solve a problem. Too much work A specific need like security I base the result on the success of that hire. The question you should ask is - in 3 months, how will you know you have hired the right person.


What are the advantages of hire purchase as a source of finance?

Hire purchase can give the good profit,


What company invented the popular purchasing system Hire Purchase?

Hire purchase was first put into regular public service in the 1850's by Edward Clark, partner to Isaac Merritt Singer. This allowed for the Hire Purchase of Singers new sewing machine that cost $125 in the 1850's. You could pay in weekly or monthly installments at agreed amounts to suit your purse. His hire purchase method was widely copied throughout the world.


Advantage of hire purchase?

One advantage of hire process is that it allows low-income individuals to purchase items that would otherwise be out of their budget. Hire purchase is also known as installment plan.


What means repossesion as regard to hire purchase?

If a company fails to make it's repayment under the hire purchase agreement then the loan providers can tale the goods bought under the hire purchase as settlement for the loan.


Why would a company use hire purchase?

The legal term for hire purchase is a contract. Companies may prefer using hire purchase because it spreads the costs of expensive items over a period of time.


What is the meaning of hp?

Hire Purchase


Hire purchase?

Paying in instalments