A person who owes money to the business is a ________

A Debtor
B Creditor
C Investor
D Supplier

Correct Answer: Debtor

Debtors are stakeholders who owe money to the business. Debtors are typically customers who have taken possession of goods or services from a business but have not yet paid the business for those goods and services. The English word debtor is derived from the Latin word 'debere' meaning 'to owe'. So in accounting, customers who owe money to the business are called debtors.
Bissoy MCQ
#Computer Fundamentals #Tally

Related Questions

Two friends M and N have 40% and 60% shares in a business. After some time a third friend joined the business by investing Tk 5 Lac and acquired 20% shares in the business. What is the share of M in the business now ?
A 20%
B 24%
C 28%
D 32%
Two friend M and N have 40% and 60% shares in a business. After some time a third friend joined the business by investing Tk. 5 lac and acquired 20% shares in the business. What is the share of M in the business now?
A 20%
B 24%
C 28%
D 32%
If Marie has twice as much money as Curie has, who has three times as much money as Sunny as has, what is the ratio of the amount of money Sunny has to the amount of money Marie has ?
A 1 : 8
B 1 : 6
C 1 : 4
D 1 : 2
Answer the question on the basis of the given information. Businesses are suffering because of lack of money available for development loans.To help businesses,the government plans to modify the income- tax structure in order to induce individual tax payers to put a larger portion of their incomes into retirement savings accounts, because as more money is deposited in such accounts, more money becomes available to borrowers. Which of the following, if true, raises the most serious doubt regarding the effectiveness of the government's plan to increase the amount of money available for development loans for businesses?
A When levels of personal retirement saving increase, consumer borrowing always increases correspondingly.
B The increased tax revenue the government would receive as a result of business expansion would not offset the loss in revenue from personal income taxes during the first year of the plan.
C Even With tax incentives,some people will choose not to increase their levels of retirement savings .
D Bankers generally will not continue to lend money to Businesses whose prospective earnings are insufficient to meet their loan repayment schedules.
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business- or ever a big business-dose not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented . Which of the following conclusions can best be drawn from the above passage ?
A An owner of a large business may be an entrepreneur.
B Someone who develops an enterprise may be considered an entrepreneur.
C Entrepreneurs do not own and operate small businesses.
D Entrepreneurs are main actors in economic growth.
If a person deposit money into two banks at 6 Tk interest respectively, the difference in profit after three and half years and five years 144. How much money did the person deposit?
A 1600
B 1500
C 1200
D 2000
A and B stats a business jointly. A invests Tk. 16000 for 8 months and B remains in the business for 4 months. Out of the total profit, B claims 2/7 of the profit. How much money was contributed by B?
A Tk. 10500
B Tk. 12800
C Tk. 11900
D Tk. 13600
Mohit and Anshu invested some money in a business in the ratio 8 : 15 respectively. After 9 months Mohit withdraws his capital. If they receive profits in the ratio 4 : 5, then for how many months did Anshu invest in the business?
A 4
B 5
C 8
D 6
P and Q start a business with initial corresponding profits are in the 13:8. Their corresponding proffits are in the ratio of 7:5. If P invested his money for 7 months, find the time period for invested his money .
A 8 months
B 9 months
C 10 months
D 11 months
P and Q start a business with initial investment in the ratio of 13: 8 Their corresponding annual profits are in the ration of 7: 5. If p invested his money for 7 months, find the time period for which Q invested his money.
A 8 months
B 9 months
C 10 months
D 11 months

Next steps