Saved Bookmarks
| 1. |
Explain the following concepts:a. Hire purchase systemb. Installment payment system. |
|
Answer» Hire purchase system - Hire-purchase system is a credit purchase . he price under hire purchase system is paid in installments . Hire vendor continues to be the OWNER of the goods TILL the PAYMENT of last installment. Installment payment system - Installment payment system also known as deferred installments . It is a system where the buyer is GIVEN the ownership as well as the possession of the goods at the time of purchase . |
|