JSCE Business Studies 2024 Objective — Question 15
Question 15 of 100 from the Junior Secondary Certificate Examination (JSCE) Business Studies 2024 Objective paper, with the correct answer and a full explanation.
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The system of installment payment where the seller only allow the buyer to take partial possession of goods on hire based after making initial payment is ______
- A. hire purchaseCorrect
- B. credit buying
- C. highest bidder
- D. deferred payment
Explanation
In hire purchase the buyer uses the goods on hire while paying by instalments, and owns them only after the last payment.
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