Creditor

Creditor is an individual that lengthen credit by giving another individual authorization to have a loan of wealth if it is salaried back at a later date. Creditors can be classified as either personal or real. Those people who borrow money to friends or family are personal creditors. Real creditors have legal deals with the borrower

Creditor

A creditor can be defined as an individual, financial institution or a business entity that lends money to another entity under the agreement of repayment. Types of Creditors There are generally two types the creditors that can be defined as under:- Personal Creditors Real

Important Bookkeeping Terms

Important Bookkeeping Terms: Before attempting to learn the art or science of bookkeeping it will be better to clarify some of the terms that will have to be used again and again. Transaction: Any dealing between two persons or things in a transaction. It