Terms Beginning With 'd'

Debt

  • January 15, 2020
  • Team Kalkine

The amount of money that one party owns to the other is termed as debt. In other words, it is an obligation or duty to make a payment, render service or deliver goods under an agreement. The person who owes and to whom it is owned are categorized as debtor and creditor, respectively. Many business entities use debt to make huge purchases that are otherwise unaffordable under normal circumstances.

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