fill in the blanks with suitable words 563288

Fill in the blanks with suitable words

1. The hire purchaser acquires the property immediately on signing the ________
2. Under Hire Purchase System, the ownership or the title of the property is transferred only when the ________ is paid.
3. The Hire Purchase System is regulated by ________ Act, 1972.
4. The hire purchase price is always higher than the ________.
5. The money payable immediately on signing the Hire Purchase Agreement is technically known as ________.
6. Asset is always recorded by the hire purchaser as ________.
7. Under Hire Purchase System, interest is always calculated on the outstanding total – and not on the outstanding total installments.
8. ________ a series or one of a series of equal payments at fixed intervals.
9. As the figure of 78 is commonly used, it is often quoted as ________.
10. The asset on Hire Purchase Account would appear in the ________ at its original cash price or historical cost.
11. ________ Account would be shown as a deduction from the historical cost of asset, purchased under this system.
12. The Vendor ________ Hire Purchase Sales Account, because the items sold by him are treated as goods.
13. Hire Purchase Sales Account is closed by transferring to ________.
14. ________ Account is opened only when the goods are taken back from the defaulting hire purchaser.
15. Under the Installment System, the title of goods is ________ to the purchaser immediately, though the price will be paid in installments.