Question

Which of the following is not a method of sale?
(a) Sale on cash basis
(b) Sale on Hire Purchase basis
(c) Sale on Credit basis
(d) Sale under Installment system

Answer 1

Answer:

(c) sale on hire purchase basis

Answer 2

'Sale on Hire Purchase basis' is 'not a method of sale'.

Answer: Option (b)

Explanation:

Before purchasing anything, we are not always sure about how they can be normally obtained and paid for. If we went to a shop discussing about the electrical products, the shopkeeper actually anticipate that we shall pay hand cash for the product we select.

If the item is little bit expensive, the buyer may not be able to pay for the price immediately. The seller may permit that a small amount is paid at first and the remaining balance will be paid in monthly installments.