The profit on interest charged on the hire purchase should appear in the profit and loss account in what manner? - Study24x7
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265 followers study24x7 14 Jul 2021 11:39 AM study24x7 study24x7

The profit on interest charged on the hire purchase should appear in the profit and loss account in what manner?

A

The interest charged in that period only should be included

B

Interest should be apportioned in proportion to the repayment totals

C

The total interest levied should be divided equally over the total period the for purchase agreement.

D

Interest should instead be capitalised on the balance sheet

Banking
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