Question on: SS3 Accounting - Hire Purchase And Installment Payment Accounts - Definition & Types of Goods On Hire Purchase
What is a hire purchase agreement?
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A
A legal document that transfers ownership of goods from the seller to the buyer
B
A financial agreement in which a person or business agrees to purchase goods on credit
C
A contract between two parties to exchange goods or services for money
D
A document that confirms the receipt of goods or services
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Correct Option: B
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