Business

Royalty is the sum payable by the lessee to the lessor for the use of rights vested in the lessor. Royalty payments are made according…

Auction Sale An auction sale is a public sale. It is a method and selling an asset to a person in competition in the presence…

Concept of Hire Purchase System Hire purchase system refers to the system wherein, the seller of goods delivers the goods to the buyer without transferring…

The hire-purchase system is a special system of purchase and sale of goods. It is a special system of purchase and sale of goods. Under…

At Premium It means more value of shares and debentures i.e. higher value than the face value of shares or debentures. “At a premium” is…

Accounting Methods of Recording Hire Purchase Transactions Hire purchase is an agreement between two parties in which one party purchase any asset from other parties.…

Antedated Check Antedated means the date entered on any legal contract which is earlier than the actual date of occurrence of contract. An antedate is…

Arbitrage is the strategy of taking advantage of price differences in different markets for the same asset. It is an operation in which a person…

Under the installment purchase system, there is an outright sale of goods with the buyer having the facility to pay the purchase price in a…

Apportionment Apportionment means division into parts and it is used in accounts and insurance business. It is the act of sharing something between several people…

Concept of Installment System An installment system is just like a credit purchase and hires a purchase system of selling and buying goods. It is…

Both hire purchase and installment sales are popular methods of financing goods. There are 3 parties in Hire Purchase trade namely the seller, the financier,…