Login
Remember
Register
EasyElimu Questions and Answers
Questions
Unanswered
Tags
Users
Ask a Question
Ask a Question
Explain the three ways of buying goods on credit.
0
votes
607
views
asked
Jul 22, 2021
in
Home Science Form 3
by
anony mous
Explain the three ways of buying goods on credit.
principles of wise buying
Please
log in
or
register
to answer this question.
1
Answer
0
votes
answered
Jul 22, 2021
by
anony mous
Hire purchase/ installment credit - a form of installment credit whereby goods are obtained by paying a certain percentage in form of deposit. The balance is paid later through equal installments spread over a period of time.
Non installment credit - this is where one obtains goods and services for a period of time and then pays up when bills arrive
Use of credit cards - this is where a consumer uses a card to buy goods and services. The payment is paid from the consumer's bank account.
Please
log in
or
register
to add a comment.
Related questions
0
votes
1
answer
Explain five circumstances under which a buyer would prefer buying goods under credit purchase rather than hire purchase terms.
asked
Jul 19, 2021
in
Business Studies Form 3
by
anonymous
business transactions
0
votes
1
answer
Yogen had the following transactions with a creditor, Sulem, 2017 June 1 Balance from May 14,000 2 Bought stock from Sulem on credit Kshs. 80,000 4 Returned faulty goods to Sulem Kshs. 2,000 7 Paid Sulem the debt by cash less 2% discount. Prepare Sulem’s account as it would appear in the books of Yogen.
asked
Aug 3, 2021
in
Business Studies Form 3
by
anonymous
the ledger
books of original entry
0
votes
1
answer
Name and explain the three types of hems.
asked
Jul 22, 2021
in
Home Science Form 3
by
anony mous
clothing construction processes
hem management
0
votes
0
answers
Tom bought a car worth sh.800000 using a loan from a credit corporation. He was to pay back using four equal yearly instalment of shule.200000.The lender charged compound interest at the rate of 16%p.a. and a ledger fee at 1.5%p.a on any outstanding balance at the time when each instalment is paid. What is the total amount of money that Tom paid to clear the loan?
asked
Dec 31, 2021
in
Mathematics Form 3
by
Shikutwazinedine
commercial arithmetic
0
votes
1
answer
Explain three ways in which each of the following reduces tomato production: strong wind.
asked
Jun 23, 2021
in
Agriculture Form 2
by
anonymous
crop production
vegetables
Welcome to EasyElimu Questions and Answers, where you can ask questions and receive answers from other members of the community.
Categories
All categories
Mathematics
(632)
English
(287)
Kiswahili
(559)
Chemistry
(663)
Physics
(604)
Biology
(659)
Geography
(537)
History
(568)
CRE
(365)
IRE
(53)
Agriculture
(519)
Business Studies
(379)
Computer Studies
(20)
Home Science
(60)
Home Science Form 1
(21)
Home Science Form 2
(15)
Home Science Form 3
(11)
Home Science Form 4
(13)
General Questions
(432)
6.4k
questions
9.6k
answers
6
comments
590
users
...