Question

distinguish between debtors and creditors; profile and gain​

Answer 1

Explanation:

Persons or organisations that are liable to pay money to a firm are called debtors. Persons or organisations to whom the firm is liable to pay money are called creditors.

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Answer 2

Debtors

.A debtor or debitor is a legal entity that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower.

Creditors

A creditor or lender is a party that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption that the second party will return an equivalent property and service.