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.
Rating Newest Oldest. Best Answer: A guarantor is someone who pledges that a loan or other type of debt will be paid. Usually, a guarantor agrees to pay or perform another person's debt or duty should that person fail to do so. The term is most commonly used in reference to financial assistance.A parent who cosigns a student loan for a child could be considered a guarantor â should the child default on his or her debt, the parent would be held liable for the remainder of the loan.he term is most commonly used in reference to financial assistance. A parent who cosigns a student loan for a child could be considered a guarantor â should the child default on his or her debt, the parent would be held liable for the remainder of the loan.