Accountancy, asked by pavanbaghel370, 8 months ago

Who is a craditar give 1 mark definition?

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Answered by NUMBERing

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Answer:PLS MARK BRAINLIEST

Explanation:A creditor 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.

EXAMPLE: If you take out a loan to buy your house. Then you as the homeowner are a debtor, while the bank who holds your mortgage is the creditor. In general, if a person or entity have loaned money then they are a creditor.

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