1 depreciation on hire purchased asset is claimed by a hire, Ask an Expert

Accounting

1. Depreciation on hire purchased asset is claimed by
(a) Hire vendor
(b) Hire purchaser
(c) Either the hire vendor or the hire purchaser as per the agreement between them
(d) No depreciation is claimed till the last instalment is paid/ received

2. Under instalment payment system, ownership of goods
(a) is transferred at the time of payment of last instalment
(b) is not transferred
(c) is transferred at the time of signing the contract
(d) None of the above

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9958739

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