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.
SUNDRY DEBTORS. When a business firm supplies the goods or provides the services to its customer on credit basis then those customers are called as sundry debtors. These customers are supposed to pay the outstanding amount on a particular date. They are also referred to as accounts receivable or trade debtors.