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Cash Settlement with Retiring Partner

A person or e...

Question

A person or entity who owes money is known as ________.

A

Creditor

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B

Claimant

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C

Bailee

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D

Debtor

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Solution

The correct option is D Debtor
Goods or services provided to a person against which the money will be received in future is called as debtors. Debtors are part of current assets.

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