What is the difference between credit sale and hire purchase?

What is the difference between credit sale and hire purchase?
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Answer :

1. hire purchase(HP) is an agreement of hire, whereas creditsales is an agreement of sale.2. ownership of goods is transferred from hire vendor to hirepurchaser only when the last installment is paid, but in sales,ownership is transferred immediately to the buyer.3. price is paid by the hire purchaser through installment whichis treated as hire, but in sales price is paid in lumpsum oraccording to the agreement of sale.4. the hire vendor can repossess the goods on default. but insales the seller cannot take back the goods, whatever is thecase.9634357689
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Related questions

What is the difference between credit sale and hire purchase?

Description : What is the difference between credit sale and hire purchase?

Last Answer : 1. hire purchase(HP) is an agreement of hire, whereas creditsales is an agreement of sale.2. ownership of goods is transferred from hire vendor to hirepurchaser only when the last installment is ... goods on default. but insales the seller cannot take back the goods, whatever is thecase.9634357689

A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell

Description : A contract for the sale of goods which provides that the property would pass to the buyer on full payment of price and execution of sale deed is known as a)sale of approval b)hire purchase agreement c) sale d)agreement to sell

Last Answer : d)agreement to sell

What was the first manufactured item sold on Hire Purchase?

Description : What was the first manufactured item sold on Hire Purchase?

Last Answer : Singer sewing machine in 1850s

Hire purchase Act passed in the year_____.(a) 1972, b)1973,c)1975)

Description : Hire purchase Act passed in the year_____.(a) 1972, b)1973,c)1975)

Last Answer : (a) 1972

In hire purchase depreciation can be claimed by the____.(a) Vender b) hirer c) Financiers)

Description : In hire purchase depreciation can be claimed by the____.(a) Vender b) hirer c) Financiers)

Last Answer : b) hirer

When a fixed asset is bought as hire purchase, interest element is classified under ______ and loan element is classified under________. A. Operating activities, financing activities B. Financing activities, investing activities C. Investing activities, operating activities D. None of the above

Description : When a fixed asset is bought as hire purchase, interest element is classified under ______ and loan element is classified under________. A. Operating activities, financing activities B. ... activities, investing activities C. Investing activities, operating activities D. None of the above

Last Answer : B. Financing activities, investing activities

In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods

Description : In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods

Last Answer : c) has an option to buy the goods

The techniques of privatization are contract _______and concession. A. building. B. free . C. leases . D. hire purchase.

Description : The techniques of privatization are contract _______and concession. A. building. B. free . C. leases . D. hire purchase.

Last Answer : C. leases .

Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three

Description : Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three

Last Answer : (a) Actual expenses of the firm to purchase or hire input it needed 

What was the first manufactured item to be sold on Hire Purchase

Description : What was the first manufactured item to be sold on Hire Purchase

Last Answer : Singer sewing machine in 1850s

Could I short sale my house and have wife purchase new home under her name?

Description : Could I short sale my house and have wife purchase new home under her name?

Last Answer : answer:If your wife is not on your current loan and can afford to, independent of your finances,qualify for and purchase another home that you quit claim any interest to then it's possible she could buy a ... be easy and will be a pay now/pay later scenario. Better to stick with the devil you know.

what are common scams regarding the purchase of a product I have for sale?

Description : what are common scams regarding the purchase of a product I have for sale?

Last Answer : Need Answer

How to Purchase Chanel on Sale?

Description : How to Purchase Chanel on Sale?

Last Answer : Chanel, a brand created by the great designer Gabrielle Chanel in 1909, is one of the most popular design houses of all time. Fashionable men and women all over the world dream of dressing ... of getting rid of overstocked merchandise. While getting in to a sample sale held at a Chanel bouti

Where to purchase any polaroid 600 instant film in the local Reno/Sparks area for a normal or sale price?

Description : Where to purchase any polaroid 600 instant film in the local Reno/Sparks area for a normal or sale price?

Last Answer : Amazon.com is currently selling several lots of Polaroid 600 Instant Film online at great prices. Take a look!

Where can I purchase a good desktop computer on sale?

Description : Where can I purchase a good desktop computer on sale?

Last Answer : Well, I would recommend purchasing desktop computers from Future Shop because they offer a variety of computer products. They also offer their products for an incredibly reasonable price.

Where can I purchase laptops for sale?

Description : Where can I purchase laptops for sale?

Last Answer : Wal-Mart is the perfect place to find a laptop computer for your brother. They have a wide variety of laptops and bundle deals, where you can purchase two laptops and save a great deal.

Where can I purchase an army jeep for sale?

Description : Where can I purchase an army jeep for sale?

Last Answer : Army Jeeps For Sale can be found on ebay. At eWillys you will find pre-1984 willys. Army Jeep In A Crate for $50 information and photos from Olive-Drab.com

Where can i purchase posters for sale, online?

Description : Where can i purchase posters for sale, online?

Last Answer : The best online movie poster website offers over 500,000 different posters for absolutely anything you could need in your life. It can be found here: http://www.allposters.ca/

Where can I purchase a wireless laptop online for sale?

Description : Where can I purchase a wireless laptop online for sale?

Last Answer : You can purchase many wireless laptops at amazon itself. If you do not like that option you can check out the site for future shop and bestbuy and make an online purchase for the laptop you desire.

Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through rapos (C) The RBI manages longterm liquidity through Open Market Operations (D) Open Market Operations do not alter the total stock of govt. securities but change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Last Answer : Answer: The RBI manages longterm liquidity through rapos

When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000

Description : When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000

Last Answer : Answer: Rs. 3,50,000

Open Market Operations refer to (1) Borrowings by Scheduled banks from RBI (2) Lending by Commercial banks to industry (3) Purchase and sale of Government securities by RBI (4) Deposit mobilization

Description : Open Market Operations refer to (1) Borrowings by Scheduled banks from RBI (2) Lending by Commercial banks to industry (3) Purchase and sale of Government securities by RBI (4) Deposit mobilization

Last Answer : (3) Purchase and sale of Government securities by RBI Explanation: Open Market Operation (OMO) refers to the buying and selling of government securities in the open market in order to expand or ... in the banking system. A central bank uses OMO as the primary means of implementing monetary policy.

In the Capital market, the term arbitrage is used with reference to ______ A. Purchase of securities to cover the sale B. Sale of securities to reduce the loss on purchase C. Simultaneous purchase and sale of securities to make profits from price D. Variation in different markets E. None of the Above

Description : In the Capital market, the term arbitrage is used with reference to ______ A. Purchase of securities to cover the sale B. Sale of securities to reduce the loss on purchase C. Simultaneous purchase ... of securities to make profits from price D. Variation in different markets E. None of the Above

Last Answer : C. Simultaneous purchase and sale of securities to make profits from price Explanation: Arbitrage is the simultaneous purchase and sale of an asset to profit from a difference in the price. ... on different markets or in different forms. Arbitrage exists as a result of market inefficiencies.

Illegal purchase or bid for property offered for sale by authority of public servant shall be punished with imprisonment of either description for a term which may extend to ____, or with fine which may extend to ____ rupees, or with both a) One month, six hundred b) One month, five hundred c) One month, two hundred d) None of these

Description : Illegal purchase or bid for property offered for sale by authority of public servant  shall be punished with imprisonment of either description for a term which may extend  to ____, or with fine which may extend ... six hundred b) One month, five hundred c) One month, two hundred d) None of these

Last Answer : c) One month, two hundred

Last-click attribution is defined as: A. The last date on which a new customer clicked to your website B. The channel that received the most amount of clicks in the sales cycle C. The last point in the sales cycle before the customer purchase D. The channel that sent the user to your website immediately before the sale

Description : Last-click attribution is defined as: A. The last date on which a new customer clicked to your website B. The channel that received the most amount of clicks in the sales cycle C. The ... before the customer purchase D. The channel that sent the user to your website immediately before the sale

Last Answer : C. The last point in the sales cycle before the customer purchase

Harshika wants to purchase a mobile handset. The shopkeepers told her to pay 30% tax if she asked for the actual sale price (without tax) of the mobile and paid to the shopkeeper Rs. 16150. In the doing so, she managed to avoid to pay the 30% tax. What is the amount of discount that she received on the selling price (inclusive of tax)?

Description : Harshika wants to purchase a mobile handset. The shopkeepers told her to pay 30% tax if she asked for the actual sale price (without tax) of the mobile and paid to the shopkeeper Rs. 16150. In the doing so, she managed to avoid ... tax)? 1. Rs. 5495 2. Rs. 5850 3. Rs. 5950 4. Rs. 5685 5. Rs. 5975

Last Answer : 3; SP = 100, SP (with tax) = 130 New SP = 100 - 5 = 95 Effective discount = 130 - 95 = 35 So, when SP of 95, discount = 35 And when SP of Rs. 16,150, discount = 35/95x16150 = Rs. 5950

Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed that $20,000 was still on hand. The cost of goods available for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Description : Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed ... for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Last Answer : c. Purchases Returns and Allo

Transaction in which a contract for the purchase or sale of any commodity including stocks and shares is periodically of ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips is known as: a) Wagering Transaction b) Speculative Transaction c) Deemed Speculative Transaction

Description : Transaction in which a contract for the purchase or sale of any commodity including stocks and shares is periodically of ultimately settled otherwise than by the actual delivery or transfer of the ... known as: a) Wagering Transaction b) Speculative Transaction c) Deemed Speculative Transaction

Last Answer : b) Speculative Transaction

The promotion technique for consumers according to which demonstrations and displays of products made at place of sale is called A. point of purchase promotion B. cents off deals C. sales premium D. advertising specialties

Description : The promotion technique for consumers according to which demonstrations and displays of products made at place of sale is called A. point of purchase promotion B. cents off deals C. sales premium D. advertising specialties

Last Answer : A. point of purchase promotion

Which tool of the promotional mix consists of short-term incentives to encourage the purchase or sale of a product or service? A. Advertising B. Public relations C. Direct marketing D. Sales promotion

Description : Which tool of the promotional mix consists of short-term incentives to encourage the purchase or sale of a product or service? A. Advertising B. Public relations C. Direct marketing D. Sales promotion

Last Answer : D. Sales promotion

Which of the following is an application of fund a) Sale of plant b) Issue of shares c) Purchase of funds d) Payment of creditors

Description : Which of the following is an application of fund a) Sale of plant b) Issue of shares c) Purchase of funds d) Payment of creditors

Last Answer : c) Purchase of funds

Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a transaction is completed. This method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.

Description : Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a ... method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.

Last Answer : D)negotiated.

Reverse Repo transaction means (a) Sale of securities by the holder to the investor with the agreement to purchase them at a predetermined rate and date (b) Sale or purchase of securities by the holder to the investor with the commitment to sell or purchase them at a predetermined rate and date (c) Sale and purchase of securities by the holder to the investor with the agreement to purchase them at the prevailing rate and date (d) Sale of securities by the holder to the investor with the agreement to purchase them at market driven rate

Description : Reverse Repo transaction means (a) Sale of securities by the holder to the investor with the agreement to purchase them at a predetermined rate and date (b) Sale or purchase of securities by the ... of securities by the holder to the investor with the agreement to purchase them at market driven rate

Last Answer : (b) Sale or purchase of securities by the holder to the investor with the commitment to sell or purchase them at a predetermined rate and date

Repo transaction means (a) Sale of securities by the bolder to the investor with the agreement to purchase them at a predetermined rate and date. (b) Sale of securities by the holder to the investor with the agreement to resell them at a predetermined rate and date. (c) Sale and purchase of securities by the holder to the investor with the agreement to purchase them at the prevailing rate and date (d) Sale of securities by the holder to the investor with the agreement to purchase them at market driven rate.

Description : Repo transaction means (a) Sale of securities by the bolder to the investor with the agreement to purchase them at a predetermined rate and date. (b) Sale of securities by the holder to the ... of securities by the holder to the investor with the agreement to purchase them at market driven rate.

Last Answer : (a) Sale of securities by the bolder to the investor with the agreement to purchase them at a predetermined rate and date.

Repo Market means (a) A money market instrument which helps in collateral short term borrowing and lending through sale and purchase operation in debt instrument (b) A money market instrument which helps in collateral long term borrowing and lending through sale and purchase operation in debt instrument (c) A money market instrument which helps in collateral short term lending through sale and purchase operation in debt instrument (d) A money market instrument which helps in collateral short term borrowing through sale and purchase operation in debt instrument

Description : Repo Market means (a) A money market instrument which helps in collateral short term borrowing and lending through sale and purchase operation in debt instrument (b) A money market ... instrument which helps in collateral short term borrowing through sale and purchase operation in debt instrument

Last Answer : (a) A money market instrument which helps in collateral short term borrowing and lending through sale and purchase operation in debt instrument 

Open Market Operations refer to __________ . (1) Borrowings by Scheduled banks from RBI (2) Lending by Commercial banks to industry (3) Purchase and sale of Government securities by RBI (4) Deposit mobilisation

Description : Open Market Operations refer to __________ . (1) Borrowings by Scheduled banks from RBI (2) Lending by Commercial banks to industry (3) Purchase and sale of Government securities by RBI (4) Deposit mobilisation

Last Answer : Purchase and sale of Government securities by RBI

Aruna silks has announced 50% discount on prices of fancy sarees at the time of sale. If a purchase needs to have a discount of Rs 960, then how many sarees, each costing Rs 640 should be purchase?

Description : Aruna silks has announced 50% discount on prices of fancy sarees at the time of sale. If a purchase needs to have a discount of Rs 960, then how many sarees, each costing Rs 640 should be purchase?

Last Answer : The cost of discount on a saree= 50/ 100*640= 320 Number of sarees for taking the discount of Rs.960 =>960/320 =>3 sarees

As a merchant, how much of a percentage will the credit card companies keep of each sale?

Description : As a merchant, how much of a percentage will the credit card companies keep of each sale?

Last Answer : It depends on the deal that you work out with the company you choose.

Credit sale of goods recorded in cash book receipts side.

Description : Credit sale of goods recorded in cash book receipts side.

Last Answer : Correct the following sentences and rewrite them same : (i) Credit sale of goods recorded in ... The dividend received is a loss for the business

(i) Subsidiary book in which only credit sale of goods is recorded.

Description : (i) Subsidiary book in which only credit sale of goods is recorded.

Last Answer : Give a word/term or phrase for each of the following statements: (i) Subsidiary book in ... the basis of which Purchase Return Book is prepared.

If you own a home in Tennessee can a unserced credit card with a lien force the sale of your house?

Description : If you own a home in Tennessee can a unserced credit card with a lien force the sale of your house?

Last Answer : Need answer

What are the advantages of credit sale?

Description : What are the advantages of credit sale?

Last Answer : its advantages are* the person need not to pay money at sport*the person had got a credit offers in credit sales

What are the advantages of credit sale?

Description : What are the advantages of credit sale?

Last Answer : its advantages are* the person need not to pay money at sport*the person had got a credit offers in credit sales

The main source of long-term credit for a business unit is - (1) sale of stocks and bonds to the public (2) borrowing from banks (3) loans from the Government (4) deposits from the public and financial institutions

Description : The main source of long-term credit for a business unit is - (1) sale of stocks and bonds to the public (2) borrowing from banks (3) loans from the Government (4) deposits from the public and financial institutions

Last Answer : (1) sale of stocks and bonds to the public Explanation: Companies issue securities called stocks and bonds to raise necessary capital which funds the company's daily operations and growth. ... issuing stock to owners called stockholders doesn't require the company's repayment of investor principal.

A credit sale of $900 is made on July 15, terms 2/10, n/30, on which a return of $50 is granted on July 18. What amount is received as payment in full on July 24? a. $900 b. $833 c. $850 d $882

Description : A credit sale of $900 is made on July 15, terms 2/10, n/30, on which a return of $50 is granted on July 18. What amount is received as payment in full on July 24? a. $900 b. $833 c. $850 d $882

Last Answer : b. $833

he journal entry to record a credit sale is a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales

Description : he journal entry to record a credit sale is a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales

Last Answer : d. Accounts Receivable Sales

In a perpetual inventory system, the Cost of Goods Sold account is used a. only when a cash sale of merchandise occurs. b. only when a credit sale of merchandise occurs. c. only when a sale of merchandise occurs. d. whenever there is a sale of merchandise or a return of merchandise sold.

Description : In a perpetual inventory system, the Cost of Goods Sold account is used a. only when a cash sale of merchandise occurs. b. only when a credit sale of merchandise occurs. c. only when a sale of merchandise occurs. d. whenever there is a sale of merchandise or a return of merchandise sold.

Last Answer : b. only when a credit sale of merchandise occurs.

The entry to record the receipt of payment within the discount period on a sale of $750 with terms of 2/10, n/30 will include a credit to a. Sales Discounts for $15. b. Cash for $735. c. Accounts Receivable for $750. d. Sales for $750.

Description : The entry to record the receipt of payment within the discount period on a sale of $750 with terms of 2/10, n/30 will include a credit to a. Sales Discounts for $15. b. Cash for $735. c. Accounts Receivable for $750. d. Sales for $750.

Last Answer : c. Accounts Receivable for $750.

A credit sale of $800 is made on April 25, terms 2/10, n/30, on which a return of $50 is granted on April 28. What amount is received as payment in full on May 4? a. $735 b. $784 c. $800 d $750

Description : A credit sale of $800 is made on April 25, terms 2/10, n/30, on which a return of $50 is granted on April 28. What amount is received as payment in full on May 4? a. $735 b. $784 c. $800 d $750

Last Answer : a. $735