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Subject KnowledgeCCI Management Trainee Accounts 01 Sep 2026 Shift 2
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What entry is made when a buyer fails to pay an instalment under a hire purchase system?

A

Unpaid instalment is charged to profit and loss account

B

A suspense account is created for the unpaid instalment

C

Asset is immediately returned and entry passed in asset account

D

Unpaid instalment is transferred to the hire vendor account

Correct Answer

๐Ÿ“š GK โ€ข GK Verified SolutionSubject KnowledgeCCI Management Trainee Accounts 01 Sep 2026 Shift 2
Option D

Unpaid instalment is transferred to the hire vendor account

Quick Summary:

Practice and solve "What entry is made when a buyer fails to pay an instalment under a hire purchase system?..." for Subject Knowledge - CCIManagement Trainee Accounts 01 Sep 2026 Shift 2. The correct answer is Option D: Unpaid instalment is transferred to the hire vendor account. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.

Concept & Solution

Practice and solve "What entry is made when a buyer fails to pay an instalment under a hire purchase system?..." for Subject Knowledge - CCIManagement Trainee Accounts 01 Sep 2026 Shift 2. The correct answer is Option D: Unpaid instalment is transferred to the hire vendor account. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.

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