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Hire Purchase System: Ownership of goods is transferred after the payment of final installment.
Answer B) "Hire Purchase System"
"B" - hire purchase
B is the answer. Till the time the outstanding amount is paid off, the lender has the ownership of the goods.
installment
under installment system
"A" (installments)
The correct answer to answer C
Hire purchase system
d) None of these
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