Question

Explain the terms with examples1) debtor 2) creditors 3) accounting 4) liabilities​

Answer 1

Answer:

debtor

Explanation:

A debtor is a legal entity that owes a bet to another entity. example. trade debtors: money owed from customers.

2. creditor: is a party or govt that claims on the services of a second party. it is a person or institution to whom money is owed. example: a credit card company.

3. accounting: is the measurement, processing, and communication of financial and non-financial information about economic entities such as business corporations.

4. liability: is defined as the future sacrifices of economic benefits that an entity is obligated to make to other entities as a result of past transactions or other past events. examples: pension obligations