HIREPURCHASE VS INSTALMENT PURCHASE
- 4 Answers
- 17219 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / guest
Hire Purchase - You pay the value of the product in
instalments with out the title of the product.
Instalments - You pay the value of the product in
instalments and you also have the title of the same.
| Is This Answer Correct ? | 69 Yes | 7 No |
Answer / sharad garg
While in Hire Purchase system, the title before you pay the
last installment, remains with the Hirer (i.e. one who
gives something on HPS). Installments paid are considered
as payment towards the usage of the article hired, until
the last installments. If you default in paying even the
last installment, the hirer can take away the article,
without having to repay any installment or part thereof to
the hiree. Only afer the payment of the last instalment,
the ownership (title) to goods pass on to the hiree.
In case of Installment option, the title to goods is
considered to have passed to the hiree on the payment of
the first installment only. Every installment is considered
to be the payment towards the value of the goods and not
for the usage alone. In case of default seller can enforce
the hiree to sell the product and make good the remaining
installment. But the hirer cannot claim a good title to the
goods.
| Is This Answer Correct ? | 60 Yes | 8 No |
Answer / rahmat unnisa
hire pur:the ownership is not transfered
installment pur:ownership is transferd
| Is This Answer Correct ? | 29 Yes | 3 No |
Answer / gayathri .n
In hire purchase system we have the right to seize the product say two heeler if the installent is not paid ;
while in installment system we dont have the right to seize but we can file a case in the to pay the installment.
| Is This Answer Correct ? | 11 Yes | 3 No |
WHAT IS THE JOURNAL ENTRY FOR PURCHASE RETURNS IN THE BOOKS OF PURCHASER & SELLER
ABC Ltd. firm has a sales of Rs.6 crores, Variable cost Rs. 3.5 crores and Fixed cost of Rs. 0.65 crores. The firm has debt and equity resources worth of Rs.7 crores and 10 crores respectively. With the data given show : (i) The firm’s ROI. (ii) EBIT if sales decline to Rs.4 crores. (iii) If the industry’s assets turnover is 4 times, does the firm has high or low asset turnover? The cost of debt is 12%. Ignore taxation.
what is accumulaated depreciation ? and wht is effect of it in profit and loss a/c and balance sheet ??
what is the difference between sap and sas?
0 Answers Royal Bank Of Scotland,
What is current liability
Provision of Bad Debts is made in compliance with the convention of -----------
WHAT IS DERIVATIVE?
33 Answers FACT, FactSet Systems, India Infoline,
What experience do you have with general ledger?
What is MIS report and which accounting heads to be coverd for manufacturing & Trading company
Distinguish between trade bill and Accommodation bill
what are the acccounting standards ?
Capital is asset of the company. But why does it appear in Liability side of the balance sheet.
Audit 
