What is transferred to Hirer under hire purchase system:
A)ownership of assets
B)possession of asset
C)ownership and possession of asset
D)none of these

Name: What is transferred to Hirer under hire purchase system: A)ownership of assets B)possession of asset C)ownership and possession of asset D)none of these
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Under a hire purchase system, the hirer gains possession of the asset but does not obtain ownership until all payments are made. Ownership remains with the seller until the final payment.

What Is Transferred to Hirer Under Hire Purchase System