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Question
When goods are sold on credit basis the seller becomes a _________ and a buyer becomes a ___________.
When goods are sold on credit basis the seller becomes a _________ and a buyer becomes a ___________.
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Solution
The correct option is B creditor,debtor
As an obligation of payment for goods purchased is created Seller Becomes Creditor for the buyer ,
whereas A Receivable Debt is created for goods sold by seller hence for Seller - Buyer becomes Debtor.
As an obligation of payment for goods purchased is created Seller Becomes Creditor for the buyer ,
whereas A Receivable Debt is created for goods sold by seller hence for Seller - Buyer becomes Debtor.
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