JAMB Commerce 2023 Objective — Question 21

Question 21 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2023 Objective paper, with the correct answer and a full explanation.

The difference between hire purchase and credit sales is A.

A. the amount involved.
B. ownership.Correct
C. interest charged.
D. all of the above.

Explanation

The major difference between hire purchase and credit sales is on the ownership of the goods involved. In credit sales ownership is transferred but not in hire-purchase.

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