Letter grading is a prevalent system. adjective. The definition of prevalent is widespread, well known or in general use. An example of prevalent is the use of a letter grading system in colleges. prevalent. prevalent.
Answer / saif. A debtor/Accounts receivable is a person who owes to money to the business as he has received some benefit from the business. A Creditor/Accounts Payable is a person to whome the business owes money as he has given some benefit to the business.
What is an 'Obligor'. An obligor, also known as a debtor, is a person or entity who is legally or contractually obliged to provide a benefit or payment to another. In a financial context, the term obligor refers to a bond issuer who is contractually bound to make all principal repayments and interest payments on outstanding debt. The recipient of the benefit or payment is known as the obligee.