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.
A person to whom a debt is owed by a debtor. A creditor who is the beneficiary of a contract made between the debtor and a third person. The first meeting of creditors of a debtor, required for the purpose of allowing the claims of creditors, questioning the debtor under oath, and electing a trustee in bankruptcy.