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Question
A person or entity to whom money is owned is known as ________.
A person or entity to whom money is owned is known as ________.
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Solution
The correct option is A Creditor
A creditor is a party (for example, person, organisation, company, or government) that has a claim on the services of a second party. It is a person or instruction to whom money is owed. A creditor may be a bank, supplier, or person that has provided credit to a company.
A creditor is a party (for example, person, organisation, company, or government) that has a claim on the services of a second party. It is a person or instruction to whom money is owed. A creditor may be a bank, supplier, or person that has provided credit to a company.
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