Difference between installment system from legal and accounting point
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Hire Purchase: System of buying goods by making regular payment until the full price is paid. Installment: System of credit sale in which a sum of money or debt is paid regularly in installment. ... Installment: Buyer can sell or transfer the ownership of the good at any time
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Answer. Hire Purchase: System of buying goods by making regular payment until the full price is paid. Installment: System of credit sale in which a sum of money or debt is paid regularly in installment. ... Installment: Buyer can sell or transfer the ownership of the good at any time.
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