Q1350
In case of Installment Payment System, which one of the following statements is not true?
A.
Payment of purchase price is made in agreed installments
B.
On default of payment of installment, seller has a right to take back the goods
AnswerC.
Purchaser prepares Assets Account, Seller's Account and Interest Suspense Account in his books
D.
Purchaser has right to sell the asset at any time after receiving the delivery
Answer: Option B
Solution
Answer: Option B
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