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 guarantor is a person that guarantees to take responsibility to  pay the debt of someone else. Guarantor acts as a signer of sorts  wherein they make a pledge on their ownâ¦ services if the original  debtor cannot continue their obligations.