Credit is extended by a creditor, also known as a lender, to a debtor. What is the other name of a debtor?

Borrower

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Poor

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Bank

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Moneylender

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Borrower
Credit is extended by a creditor, who is also known as a lender. Credit can be of two types: formal and informal. Credit is lent to a debtor, who is also known as a borrower.

Suggest Corrections

Similar questions

Q. A bill of exchange is a conditional order in writing given by a Debtor to a Creditor.

Q. Extract of trial balance of Mr. Q is as follows.

Particulars	Dr. Rs.	Cr. Rs.
Sundry debtors	$1, 00, 000$	-
Sundry creditors	-	$78, 000$

Additional information:
Included in sundry debtors Rs.

5, 000

due from Mr. A. Included in sundry creditors Rs.

2, 000

payable to Mr.A.
Sundry debtors and creditors will appear in balance sheet at __________ & Rs. ___________.

Discount allowed to a debtor should be credited to ___.

Opening debtors = Rs. 2,00,000, Closing debtors = Rs. 4,40,000, Receipts from debtors = Rs. 1,20,000. What is the amount of credit sales during the year?

Opening debtors = Rs. 1,20,000,
Closing debtors = Rs. 2,40,000,
Receipts from debtors = Rs. 52,000.
What is the amount of credit sales during the year?

Join BYJU'S Learning Program

Credit is extended by a creditor, also known as a lender, to a debtor. What is the other name of a debtor?

The correct option is A BorrowerCredit is extended by a creditor, who is also known as a lender. Credit can be of two types: formal and informal. Credit is lent to a debtor, who is also known as a borrower.

The correct option is A Borrower
Credit is extended by a creditor, who is also known as a lender. Credit can be of two types: formal and informal. Credit is lent to a debtor, who is also known as a borrower.