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.
Grantor, guarantor, and trustee ... While all three are financial terms, their meanings intertwined in trusts and debt, one of these terms is not really related to the others, although it sounds and looks similar. A grantor is the creator of a trust.