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WHAT YOU MEAN DEBTOR AND CREDITOR?
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Answer / md asif ali
DEBTOR:A person owing the money to the business firm is
called"DEBTOR" In other words. a debtor is the one who
recieved the benifit from the firm and the yet to repay it.
CREDITOR:Creditor who lend money or sell goods on the
credit to the firm .In other words,Creditor means ,gave
benefit to the firm and yet to receive the equivalent
benefit from the firm
| Is This Answer Correct ? | 47 Yes | 2 No |
Answer / venkatesh
DEBTOR:
Debtor is the person receives benifit from the company and
this account is show on the assets side of the balance
sheet in the head of current assets.
CREDITOR:
creditor is the person gives benift to the organisation are
company. those accounts are show on the liabilites side of
the balance sheet in the head of current liabilites.
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / shiva shankar
debtor is the person who takes the money by accepting to
pay the interest for a certain period.
creditor is the person who gives the money for sake of
interest.
| Is This Answer Correct ? | 5 Yes | 3 No |
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