Question on: SS3 Accounting - Hire Purchase And Installment Payment Accounts - Definition & Types of Goods On Hire Purchase
What is the responsibility of the buyer in a hire purchase agreement?
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A
Insuring and maintaining the goods during the term of the agreement
B
Providing payment to the seller in full at the beginning of the agreement
C
Signing over ownership of the goods to the seller at the end of the agreement
D
Providing a list of potential buyers for the goods at the end of the agreement
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Correct Option: A
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