Economics · Hire Purchase System
Under the Hire Purchase system, what is a major advantage for the seller regarding the profit on the sale of goods?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It guarantees that no defaults can ever occur
- 2It shifts all maintenance costs completely to the buyer immediately
- 3It helps in increasing sales volume and earning interest income✓
- 4It eliminates the need for any credit checks
Correct answer
It helps in increasing sales volume and earning interest income
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