Consumer Credit Act 1974

Credit Rating
An assessment of the creditworthiness of an individual or a firm, indicating the extent to which they can safely be granted credit. It is a crucial element in financing and investing decisions.
Hire Purchase
Hire Purchase (HP) is a method for buying goods in which the purchaser takes possession upon an initial installment payment and gains ownership once all agreed subsequent payments are made.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.