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.
Definition of Creditor. The party, which offers the credit, is defined as the creditor or the lender. Definition of Debtor. The party, which obtains the credit, is defined as the debtor or the borrower.he party, which offers the credit, is defined as the creditor or the lender. Definition of Debtor. The party, which obtains the credit, is defined as the debtor or the borrower.