Commerce JAMB

Hire purchase is advantageous to the seller in that?

A. it elevates his living standard
B. his turnover will increase
C. people pay on installment
D. it enhances high level of patronage

Correct Answer:

Option B – his turnover will increase

Explanation

Advantages of hire purchase to the seller:

  1. Increases sales and thus profits.
  2. It encourages impulse buying.
  3. They get commission from Finance Houses.
  4. Insurers good during the Hire Purchase period.
  5. The seller has the right to repossess the goods if the buyer defaults on payment.
Sunday

Share
Published by
Sunday
Tags: Commerce

Recent Posts

OOU JUPEB Admission For Agricultural Extension

Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Agricultural Economics

Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Cooperative and Business Management

Do you want to study Cooperative and Business Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Home and Hotel Management

Do you want to study Home and Hotel Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Animal Production

Do you want to study Animal Production in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Crop Production

Do you want to study Crop Production in OOU? Before you apply for the OOU…

11 months ago