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Question
A person to whom money is owed by the business __________________.
A person to whom money is owed by the business __________________.
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Solution
The correct option is A A creditor
Creditors are persons and/or other entities who have to be paid by an enterprise
an amount for providing the enterprise goods and services on credit. The total
amount standing to the favour of such persons and/or entities on the closing
date, is shown in the Balance Sheet as sundry creditors on the liabilities side.
Creditors are persons and/or other entities who have to be paid by an enterprise an amount for providing the enterprise goods and services on credit.
The total
amount standing to the favour of such persons and/or entities on the closing
date, is shown in the Balance Sheet as sundry creditors on the liabilities side.
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