Accountancy, asked by kjangchekar2232, 5 months ago

Under hire purchase agreement the purchase agrees to pay to the vendor

a) Interest only b) Cash price only

c) Cash price and interest d) None of the above​

Answers

Answered by Anonymous
5

Answer:

A hire purchase (HP), also known as an installment plan or the never-never, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repays the balance of the price of the asset plus interest over a period of time

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