fill in the blanks with suitable words 563288

Fill in the blanks with suitable words

  1. The hire purchaser acquires the property immediately on signing the ________
  2. Under Hire Purchase System, the ownership or the title of the property is transferred only when the ________ is paid.
  3. The Hire Purchase System is regulated by ________ Act, 1972.
  4. The hire purchase price is always higher than the ________.
  5. The money payable immediately on signing the Hire Purchase Agreement is technically known as ________.
  6. Asset is always recorded by the hire purchaser as ________.
  7. Under Hire Purchase System, interest is always calculated on the outstanding total – and not on the outstanding total installments.
  8. ________ a series or one of a series of equal payments at fixed intervals.
  9. As the figure of 78 is commonly used, it is often quoted as ________.
  10. The asset on Hire Purchase Account would appear in the ________ at its original cash price or historical cost.
  11. ________ Account would be shown as a deduction from the historical cost of asset, purchased under this system.
  12. The Vendor ________ Hire Purchase Sales Account, because the items sold by him are treated as goods.
  13. Hire Purchase Sales Account is closed by transferring to ________.
  14. ________ Account is opened only when the goods are taken back from the defaulting hire purchaser.
  15. Under the Installment System, the title of goods is ________ to the purchaser immediately, though the price will be paid in installments.

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