This is the finance paid for in installments by the business. The item is not owned until all payment has been made.
Question
Solution 1
This type of financing is known as Hire Purchase. Here's how it works:
- The business chooses the item they want from a supplier.
- The finance company buys the item on behalf of the business.
- The business makes regular payments to the finance company. These payments cover the cost of the item Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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When one party grants the right to use the asset to the other party, in return for a periodic payment, it is known as __________.
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